How To Talk About Money at Work

In the dynamic world of Cleantech and Sustainability, women play a crucial role, yet the gender pay gap persists and women consistently undervalue themselves at work. This blog post delves into the insights gathered from WCS’s October webinar on “How to Talk Money at Work” with Pamela Sammarco, Catherine McLean, Ashley Smith, Zoe Gamble Hanes and AJ Dale. These powerful females discussed pay equity trends, practical negotiation advice and workshoped their own experiences to provide you with the tools and confidence to claim your worth in the workplace. 

Understanding the Pay Gap Challenge:

Women face a daily struggle to earn the same pay as their male counterparts. The inclination to work diligently, be assertive, but not too assertive, and follow traditional gender working norms, such as being the note taker without any additional incentive, often leads women to overlook their own worth. Instead of keeping our heads down, we need to practice assertiveness to highlight our value and earn deserved pay for ourselves and the collective working women of today and tomorrow. 

Companies Taking Action & Legal Developments:

Let’s first unpack the progress that has been made thus far as positive strides are being made, with several companies and states enforcing gender pay parity. Notably, Google faced a class-action lawsuit for gender pay disparity, resulting in a $118 million settlement for over 15,000 women who were paid less for equivalent work. We see this as a win because the female workers collectively stood up together to fight for their worth and the legal system listened. Sunrun, the leader in residential solar in the US, proactively audited their pay gaps and as a result of a fair pay equity initiative, raised female’s pay in line with all male counterparts. Read more here and also ask your company how they create a fair pay equity structure. 

March 14th has been named USA’s Equal Pay Day to raise awareness and combat inequalities. States are taking it into their own hands to level out the playing field by not allowing past salaries to be shared when hiring that could affect current salary potential in 16 states and Puerto Rico. This is beneficial because it could lower your leverage for negotiating a higher salary if your historic pay has been lower for a different role. Furthermore, in 8 states, salary ranges must be disclosed by companies in the job description or through the hiring process.There is a lot of work left to do, however, it is estimated it will take another century to completely close the gender pay gap. Why is this? Women typically accept a lower salary than men, even after negotiating for it! Women also tend to make different choices than males when considering their priorities, such as family time.

Pro tips: 

• Take what you think you deserve and add another 30% to it.
• If you are expected to commute to the office full time or on a hybrid schedule, negotiate for additional pay. People underestimate this commute time and it is valuable time taken away from your family or hobbies. Leverage your remote colleagues who don’t see a negative impact in their pay when not commuting. 
• Ask for promotional growth and career opportunities to be given a seat at the table and build your skill set and connections. 
• Trending! If you are looking to leave, ask your new company for a sign-on bonus by taking into consideration what you are walking away from (base salary, long-term incentives not fully vested, vacation packages and bonuses). 

Negotiation Strategies for Pay Equity:

Negotiating for yourself in a job setting involves a multifaceted approach but “If you don’t ask, the answer will always be no.”  

Begin by knowing your value and justifying your salary ask or increase through consultations with mentors, previous bosses, and yourself. Consider the macro view by applying the “trust equation,” emphasizing credibility, reliability, and authenticity. Improve credibility by demonstrating reliability and authenticity, being direct about self-interest, and showcasing your contributions. Conduct a self-analysis using the 9-box model to assess your potential and performance, recognizing that high potential and a high performance mindset increases your value to a new company. Make sure you maintain a balanced approach, understand your worth without entitlement and foster trust by being authentic, curious, and genuine.

Maintain clarity about your personal boundaries to negotiate confidently, such as having a hard number of what you will and will not accept. Just like any good negotiation, actively listen to the other party, seeking alignment and an understanding of what each party needs. When there is a misalignment in a job seniority or role classification, this can lead to major gaps. Discuss a potential job level change to realign on expectations and pay. 

No matter what, remember to trust your intuition during negotiations and respond strategically. Do you need to share your target compensation right away? Absolutely not! You can delay this disclosure until you have more information about the role and are further along in the hiring process. 

Workshopping Real-Life Scenarios: Situation #1 : Joining a new team  Q: Joining a new team is an exciting venture, but when your role is evolving, how do you approach the topic of a pay raise?  R: In this dynamic scenario, it is crucial to initiate the conversation thoughtfully. Start by showcasing your accomplishments and contributions since joining the team. Demonstrate the value you have added by actively driving goals and exceeding expectations. Q: What steps can you take to build a case for a pay raise when you are new to a team? Initiate regular 1:1 meetings with your manager to discuss your achievements and contributions. Use this time to paint a clear picture of your impact on the team. Lead your manager to a point where they genuinely question whether your current compensation aligns with your value to the organization. Q: How do you balance discussing pay with highlighting accomplishments? It is essential to strike a balance between discussing your achievements and addressing your compensation. Avoid the temptation to bring up a pay raise in every conversation. Instead, focus on showcasing consistent, significant contributions that reinforce your value to the team. Q: What if the pay raise isn’t immediately granted? If your efforts don’t result in a pay raise, consider expressing your ambitions openly. Mention your willingness to explore opportunities with other organizations where your skills might be better compensated. This isn’t about threatening to leave but about opening a dialogue on your value in the broader job market. Situation #2 – Navigating Raises at a Non-Profit  Q: How can you approach seeking a raise in a non-profit while respecting the mission? R: Navigating a raise in a non-profit requires careful consideration. Begin by recognizing the significance of the organization’s mission and avoid framing the discussion in a way that may dilute its impact. Your goal is to seek fair pay while remaining aligned with the organization’s goals. Q: What are some key considerations when discussing compensation in a non-profit setting? R: Start by conducting thorough research to understand the standard compensation levels for your role within the nonprofit sector. Be clear about your own financial expectations and the level of compensation you believe is fair and ensure that your request for a raise is framed in a way that respects the organization’s mission and values. Q: How can you balance fair pay without compromising the nonprofit’s mission? Emphasize your commitment to the mission while making it clear that fair compensation enhances your ability to contribute effectively. Articulate the value you bring to the organization and how appropriate compensation allows you to fully dedicate yourself to the cause. If you are in a fundraising role, the compensation might be higher due to the critical nature of these positions and bring this valid point into your negotiation.

Navigating pay equity and negotiation is a complex journey, but with knowledge, assertiveness, and strategic planning, we can collectively break through barriers and secure the compensation deserved. To help guide you through these situations, here is a wonderful resource to use which links additional articles discussing pay equity and tips and tricks. As we strive for a more equitable future, each negotiation becomes a step toward closing the gender pay gap and fostering a workplace where everyone’s worth is recognized and rewarded.

Download the workshop handout:

wcs-workshop-handout-how-to-talk-about-money-at-work-09.28.23