A recent study conducted by the American Association of University Women concluded that one year after college, women are already receiving lower salaries than their male counterparts. After controlling for the fact that women often take lower-paying jobs, the study still found a 6.6% gap between salaries for men and women holding the same jobs.
One of the main reasons for this difference between salaries is a lack of negotiation. The Washington Post released another article giving tips to a range of age groups to learn how to better negotiate salaries:
High school and college students
* Educate yourself about typical salaries for various college majors. Consider future earnings when making the critical decision of college major. Your choice will affect the economic security of you and your family throughout your lifetime.
* If you must borrow money for college, educate yourself about the terms associated with public and private student loans. Exhaust your federal borrowing options before considering more risky private student loans.
*Attend a $tart $mart salary negotiation workshop at a campus near you.
Recent college graduates
* Consider future earnings when deciding which job to pursue. Like college major, occupation has a significant effect on earnings. Your paycheck affects many parts of your life, from quality of life to your health to your retirement savings. Choose your occupation carefully.
* Know what your skills are worth in the labor market. Be skeptical of salary offers and pay raises, and negotiate if you believe your contributions are worth more.
* Consider pursuing a job where you are represented by a union.
Parents and teachers
* Help your children and students understand the financial implications of various fields of study and work so they can make well-informed decisions.