You may remember from Ep 86 where we discussed Machiavelli for Women by Stacey Vanek Smith. In today’s episode we got a bit deeper into that book where she wrote one of the main ways power is reflected in the workplace is pay. Oh Yeah!
She states that after closing the pay gap between 1980 and 2000, the gap stopped shrinking. More and more women got degrees and entered the workforce, but the pay gap didn’t really budge.
In this episode we’ll explore why that could be the case.
Enjoy the listen!!
Mentioned in the Episode:
Machiavelli For Women by Stacey Vanek Smith
Ep 86 Machiavelli Book Discussion
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Welcome to episode 87 of Girl Take the Lead, and this is a
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sound bite. A sound bite is a short episode
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which may be a bit more about a topic we've covered, like our
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episode today or a quick inspiration.
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And today's episode builds on episode 86, where we began the
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exploration of Stacey Vanek Smith's book Machiavelli for
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Women. You may remember from episode
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86. Stacy Vanek Smith is a longtime
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reporter and currently cohost NPR's Planet Money, a daily
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podcast, so she knows a thing or two about money.
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In her book Machiavelli for Women, Stacy writes that one of
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the main ways power is reflected in the workplace is pay.
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Oh yeah, After closing the pay gap between 1980 and 2000, she
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wrote that the gap stopped shrinking.
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More and more women got degrees and entered the workplace, but
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the pay gap didn't really budget.
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So let's first look at what money is, and I'd say that it's
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an exchange conversation that we all use to express the value of
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something. That's why Stacy says it's an
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emotional subject. If women are paid less, does it
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mean that women's efforts are worth less?
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What? Or is it we just accept lower
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pay? Or is it that we just don't ask?
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A study in 2002 found that nearly 7% of women negotiated
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their starting salaries, while 57% of men did, and one in five
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reported that they never negotiated their pay at all.
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Ever. Oh boy, this is truth time,
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guys. I fall into that four women who
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never negotiated their pay at all.
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Why didn't I? I think it had something to do
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with not knowing how to ask, or that I could ask.
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I was pretty happy to have the job, and I kept advancing my
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position, and pay increases just came along with that.
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The Machiavellian woman sees a situation where the downside is
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certain and the upside is iffy, so she doesn't ask.
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Yeah, I can definitely see how that might be the case.
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Stacy identified 5 obstacles women encounter around salary
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and salary negotiation. One women are happy with less.
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So, like in my story, I was too grateful, she says.
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Women focus more on what they need instead of what our work is
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worth. Very likely could be.
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I'd also add that sharing salaries or asking about
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salaries was very impolite because it was handled so
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secretively. I know good girl here not
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wanting to be impolite, so I never found stuff out.
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Two negotiation is painful. At its heart, negotiation is a
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kind of conflict, and women are raised to avoid conflict, she
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says. And if you were raised with lots
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of trauma around conflict, like I was, it is definitely
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something to avoid. And three, safety in lower
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numbers think. Some of us think sometimes that
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making less money will make us less a target if there's a
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reduction in force. Sadly not true.
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Four. It hurts to ask.
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Yes, I can see this one. What if I ask and I'm seen as
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pushy or conceited? And Stacy includes that in her
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book too. And five is complicated.
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Women are taught, money is not their realm. 75% of economists
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are men and Stacy states. Stats in banking and finance are
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not much better, gotta tell you. Even with my MBA, I did not
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think of myself as capable in the area of negotiating.
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I lacked a lot of confidence. There were a couple times,
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however, I got to the point of quiet quitting and even once
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said I was going to apply for an internal job at a higher level
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than I knew I deserved. I was willing to leave and take
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whatever the consequences were the outcome.
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I got the promotion in place without having to leave the
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department I was in. I don't know if that works for
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everybody, but I sure got to the end of my rope on that one and
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was quite willing to walk. Stacy offers us 3 pillars of
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negotiating while female one arm yourself.
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So this is about information being our weapon, which means
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we've got to do our homework and thank God there are better
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options to find out salary ranges today and you don't have
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to Snoop around like I did. OK, try not to be too judgey
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about that too. She says It's not just about the
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money. OK, so for me that meant good to
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think of other things you might want if the company can't come
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up with the moolah. So could it be a particular
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project or maybe more vacation time?
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But it seems the trend now is we're all offered unlimited
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vacation time, which no one ever takes, am I right?
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And what about a bonus? I liked those.
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I got a couple signing bonuses once or more days from home.
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Now that you're back in the office.
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One I just thought of was education stipend or travel to
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conferences to keep learning more and developing yourself and
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your own network. And the third one, she says, is
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Smile like You mean it. So this could mean an attitude
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of gratitude is helpful and a good tool to use to take on one
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of your greatest skills. Figuring out what people want
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and how they see others to help the hiring team get what they
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want. It's all about the we Stacy
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said. So the question can be, what's
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going to make your employer want you to earn more?
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So our disadvantage in negotiating becomes a kind of
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superpower where everyone benefits.
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And by not settling for less and feeling like there's no choice,
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negotiating and advocating for yourself can make you feel like
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you can stand up and speak for yourself.
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Stacy reminds us to remember it's a process that takes time,
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effort, courage, and homework. But realizing your worth and
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fighting for it is one of the most powerful and impactful
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things you can do for your career and for yourself.
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And I'd add this perhaps the vulnerability we all risk by
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sticking our neck out and going for it can be hard and painful,
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Stacy says make a plan. And I say invest in yourself,
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your own learning, your own advancement. 42 years later, you
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can feel content and satisfied with your life's achievements.
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And in that note will end today's episode.
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Thank you for being here. Please join us at our girl Take
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the Lead Facebook group, visit our girl Take the Lead pod.com
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website, or check out our New Girl Take the Lead YouTube sound
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bite videos. On Tuesday, we will be posting A
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Girl Take the lead interview with Nori Java, author of
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Keeping Your Seat at the Table. And that conversation is a juicy
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about ages. I hope you'll join us for that
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and talk to you soon. Bye.