gender pay gap: Should women be assertive, or should the market be responsive? //

Our MarTech Salary and Career Survey reveals a pay gap that persists year after year between respondents who identify as women and those who identify as men. This gap can be seen all the way up to C-suite. The question is whether women should be more aggressive in negotiating for higher salaries, or if the job market should better reflect their qualifications and skills.

This issue goes beyond the marketing and marketing technologies roles. In their policies, both the EU and national governments place a high priority on reducing the gender pay gap. Has there been any tangible progress? Many would say that it is not enough.

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The psychology of the gender pay gap

Women who are regularly affected by the gender pay gap may feel frustrated and helpless. This frustration can quickly turn into stress and depression.

Unfortunately, the research shows that women continue to blame themselves for these situations instead of accepting the need for reformative actions from the system.

Women’s depression and anxiety is linked to the gender wage gap

Recent large-scale survey by Columbia University found a link between women’s anxiety and gender wage gaps. The executive summary states: “The authors of the study suggest that these results could indicate that structural discrimination, rules and practices that are biased against specific groups, such as women and ethnic minorities and that result in wage inequality, contributes to increased rates of anxiety and depression among women.” ”

If women earn the same or more as their male counterparts then their depression and anxiety risk is similar to men. When female earnings are below those of men, the risk for depression and anxiety increases by more than twice.

Fear of asking for an increase

As a young entrepreneur I do not believe that employers are exploiting women working in technology. Women need to be more confident and self-assured about the value they bring to their fields.

According to my observations and my five years’ experience managing positions, I have found that women negotiate their salaries less often than men during job offers. This was a problem I had been dealing with for my first three years in a corporate career. It wasn’t because my employer wouldn’t give me more money. It was me who was afraid to request a more generous salary due to lack of confidence, the impostor’s syndrome, and many other prejudices.

The book Women don’t ask: Negotiation and Gender Divide sheds light on how men and women approach negotiations and what they want. Men are twice as likely to initiate direct negotiations and voice their demands as women, according to a recent study.

The gender gap has also narrowed among younger women. As they become more assertive in asking for wage increases, and as the primary income providers to their families.

Women are still far from equal pay by effective negotiation.

The gender pay gap in marketing

In our 2023 MarTech Career and Salary Survey, we found that, on average women earned 24 % less than men. This is a significant improvement over the disparity of 30% last year. The average marketing technologists’ salary was $138,000; higher salaries were available to those in larger companies or with more experience.

Takeaway: Women are beginning to close the gender pay gap by showing their worth and taking action.

The gender pay gap in the healthcare industry is a terrible disparity that must be addressed at the government level. Health Affairs published a report demonstrating that, over the course of a 40-year career simulation, women physicians earning the same credentials and skills earn an estimated $2,000,000 less.

The Wall Street Journal had already reported in 2016 that there was a critical gender pay gap of 64%.

The link between gender and race pay gap

Two obstacles are faced by women of color — the racial pay gap and the gender pay gap.

women of Black, Hispanic or Latina descent earn less than males of the same race/ethnicity. The annual income of women varies by race. As an example:

• White Women — $47K a year
• Black — Less than $40K
• Latina woman — Less than $37K

Asians, on the other hand, out-earn all other ethnicities. Women are paid more than men.

How can women earn more and close the gender gap?

Reduce the gender pay gap by working together with employers and policymakers. Women can increase their earnings and opportunities for career growth. Although there is no one solution to close this gap, they can work together with employers and policymakers.

Negotiating salary

According to Beverly De Marr, ” negotiation and dispute resolution“, 20% of women will not negotiate their salary at all. They should. DeMarr says that if they do, they can earn up to $7,000 in the first year.

Women who refuse to negotiate their salary over the course of a career will lose anywhere from $650,000 to $1,000,000.

Negotiating salaries can therefore have a significant impact on the earnings of women over time. It is important to do thorough research on the market and create a persuasive argument before negotiating. You can help yourself with this by reading ” Negotiating Agreement without Giving In“.

Women can reduce the gender pay gap by negotiating with a concise and clear argument.

Building a Network

Women can find jobs and employers by expanding their network in the industry. Joining LinkedIn, attending events and joining organizations can all help you improve your professional contacts. Joan Budden, former president and CEO of Priority Health , has stated that “I strongly believe in providing ample opportunities for women to succeed in the workplace. We, as leaders, must provide ample mentoring and networking so professional relationships can thrive.”

Confidence is key

Women who do not achieve their career goals are often accused of lack of confidence, despite the fact that they demonstrate it by assertive behavior. These comments can lower confidence and self-esteem.

Women must remember that their contribution is important and they are valued members of the team. Women can achieve success by recognizing their value and building their confidence. They make significant strides towards closing the gender wage gap in marketing, and beyond.

The post Gender Pay Gap in Marketing: Should Women Be More Assertive or Market Be More Responsive? first appeared on MarTech.