Recognizing that women are less likely than men to get the raises they ask for, CNBC interviewed eight successful women in different fields to find out how those women had asked for a raise in their past.
There’s a common perception that women ask for raises less often, but according to the research from Harvard Business Review quoted by CNBC, that’s not the case. Rather, women who ask for a raise receive one 15 percent of the time, while men who ask for a raise receive one 20 percent of the time. Over the course of a career, as raises often accumulate based on percentages, the gap can keep widening.
One piece of advice the women CNBC interviewed have in common is “find out what others in your position in your industry are making.” This can be achieved by asking other individuals to share that information or using a site such as Glassdoor.com.
Although each industry is different, some advice seems to apply across the board. For example, Kristy Wallace, an entrepreneur, angel investor and CEO of Ellevate Network (a global network for women who are looking to advance professionally), recommends “Approach salary negotiations with data.” Others offer similar advice. Wallace continues” It shouldn’t be expected that you’ll receive a raise simply because you’ve been in your role for a year. Talk about the objectives of your role, how you accomplished or excelled in the objectives, the ways in which this work impacted the business.”