Episode 96: Realities of the Gender Pay Gap

This transcript features Karen interviewing Roxanne Calder.  Roxanne is a recruitment expert and author of "Earning Power - Breaking Barriers and Building Wealth for Women" about the realities of the gender pay gap. They discuss the systemic issues, discrimination and practical strategies women can employ to overcome barriers and achieve financial parity. 

Key Takeaways 

Systemic Issues

• The gender pay gap is a complex issue with varying perspectives. 

• Reports, like the WGEA's "She's Price(d)less",  highlight a million-dollar lifetime earnings discrepancy and a significant superannuation gap. 

• Key factors include discrimination, feminized industries, and time off for caring responsibilities. 

• New legislation mandates reporting of earnings by companies with over 100 employees, increasing transparency. 

• Waiting for systemic change may take generations, necessitating individual action. 

Discrimination and Bias

• Discrimination is a significant contributor to the pay gap.    

• Bias is often subtle and ingrained, affecting both workplace and home life.    

• Assumptions about women's availability or capabilities, especially after maternity leave or with flexible work arrangements, perpetuate discrimination.    

• Unconscious bias plays a larger role than conscious discrimination. 

• Women often underestimate their abilities and avoid applying for roles if they don't meet every criterion.    

• Conditioning and subtle comments can have a large impact on a woman's confidence. 

Strategies for Women

• Awareness: Recognize personal biases and external triggers that hinder progress. 

• Value: Understand and articulate your worth and the value you bring to an organization. 

• Negotiation: Be prepared to negotiate salaries and promotions, and don't settle for less than deserved. 

• Proactive Action: Seek development opportunities, present at meetings, and take on challenging assignments. 

• Preparation: Thoroughly prepare for interviews, presentations, and salary negotiations. 

• Incrementalism: Build confidence and skills through gradual steps and small wins. 

• Mindset: View your job as a journey to achieve your dreams, not just a necessary task. 

• Confidence: Back yourself and don't give up when faced with challenges. 

• Education: Invest in personal education and stay informed. 

Employer Responsibility

• Employers should be aware of and address unconscious biases. 

• Creating a culture of equal opportunity and fair compensation is essential. 

• Value employees and pay them what they are worth. 

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