SAN FRANCISCO, Calif. (Ivanhoe Newswire) — For too many women, the pay gap between them and their male counterparts is still substantial. In many cases, women still earn 20 percent less than men doing the same job. One female CEO avoided being another dismal statistic and wants to show other women how to earn their fair share in today’s high tech economy.
Stacey Epstein, CEO of Zinc in San Francisco, is in rare company; only five percent of women lead U.S. technology companies. Her first tip: women need to empower each other to obtain equal pay.
Epstein told Ivanhoe, “There’s only so much we can change what companies do. But we can take the situation on ourselves and as women be empowered to fight for what we deserve.”
She realized early on that negotiating her salary could make a big difference with employers.
Epstein explained, “For them it’s mostly about the bottom line. If you’re going to take the job and you’re highly qualified and they don’t have to pay you as much, that’s great for them.”
Sixty-eight percent of women accept a salary without negotiating first. That adds up to almost two million dollars in lost salary over a lifetime.
“That was something I learned from and I’m never going to let that happen again,” detailed Epstein.
So Epstein developed a plan for negotiating and shared it with a former colleague and senior manager at Service Max, Melinda Ornburg. First, you’ve got to do your homework.
“So what that means when you are negotiating for a new job offer make sure you do your research for what the comparable going rate for that job is,” Ornburg told Ivanhoe.
Next, role play.
“The more you practice it, the more it becomes second nature” said Epstein.
Finally, pick a bottom line number and don’t dip below it.
“I think coming in confident, poised and informed and willing to stand up for yourself is seen as a positive,” said Epstein.
Ornburg tried it and walked away with the big promotion and salary she wanted.
“If we’re doing the same work, we should be getting the same pay,” said Ornburg.
Epstein also recommends finding a mentor. It doesn’t matter how far along you are in your career. Getting advice from someone whose been in your situation and can guide you through salary negotiations is invaluable. That goes for both men and women.
Contributors to this news report include: Jennifer Winter, Producer; Rusty Reed, Videographer; Dave Harrison, Editor.
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