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Currently, women are earning an average of $11,000 less than their male counterparts – with the gender wage gap only increasing as we age. If we want to eliminate that gap, then negotiation will be imperative.
However, studies have found that while 50 percent of men are more likely to negotiate their salaries, only 1 in 8 women do the same. Perhaps their apprehension derives from a lack of confidence or a lack of know how.
Here are some tips that may help women be more successful negotiators.
While the gap between men’s and women’s earnings has been steadily narrowing in the last decade, full wage equality has yet to be achieved. It’s time for us to take some control over our financial future. With more understanding and self-awareness, we can work to close the gender wage gap.
Shelley Ford is a Financial Advisor with the Pelican Bay Group at Morgan Stanley in Denver. She can be reached at 303-572-4839 or Shelley.Ford@morganstanley.com.
Editor’s note: This is a part 2 of a 3-part series about women in business. Next: The Power of Networking