Don’t ask for a raise. Keeping quiet will give you “superpowers” that will translate into employer trust and other “good karma” that will eventually come back around to your purse.
Microsoft CEO Satya Nadella was widely derided Thursday for his foot-in-mouth statement at an event celebrating women in computing. During his stage interview, Microsoft director Maria Klawe asked Nadella to give advice to women who want to advance their careers but are uncomfortable asking for promotions and raises. His pearl of wisdom? Just trust that the system will reward you “as you go along.” He didn’t say if he has employed that philosophy during his decades-long career at Microsoft. He later apologized.
Men are eight times more likely than women to negotiate salary when taking a job, according to a study by Linda Babcock and Sara Laschever for their 2007 book Women Don’t Ask: The High Cost of Avoiding Negotiation and Positive Strategies for Change.
So how’s that good karma working out?
▪ On average, women in the U.S. working full time were paid 78 cents for every dollar that men earned in 2013, according to Census figures.
▪ Tech no haven: Women in the computer technology industry earn an average of $6,358 a year less than men, factoring in education, age, region and occupation differences. That’s according to a recent study by the nonprofit American Institute for Economic Research. You’re a mom too? The “child penalty” will cost you $11,247 a year.
▪ Engineers: Female engineering majors earn an average of 88 percent of their male counterparts’ salaries a year after graduation. Female majors in computer and information sciences earn 77 percent of men with the same degree, says a study by the American Association of University Women based on the Education Department’s 2008-09 Baccalaureate and Beyond Longitudinal Study. It included about 15,000 graduates.
▪ Gender minority: Most of the technology companies that have revealed diversity figures this year say women comprise less than a third of their workforce. At Microsoft Corp., women make up 29 percent of employees.
▪ Wall Street: The pay gap is even bigger in the financial services industry, where women earn $14,067 a year less than men, says the American Institute for Economic Research. Brides earn $16,491 less than single ladies and all men.
▪ Few CEOs: Only 5 percent of Fortune 500 companies are led by women. The 25 female CEOs are represented across most industries, including IBM Corp.’s Ginni Rometty, PepsiCo’s Indra Nooyi and General Motors’ Mary Barra. In 2009, Ursula Burns became the first African-American woman to lead a Fortune 500 company when she was named CEO of Xerox Corp. Safra Catz was recently named one of software giant Oracle Corp.’s two CEOs, along with Mark Hurd. Defense contractor Lockheed Martin Corp. named its first female CEO, Marillyn Hewson, last year.
▪ Board seats: About 17 percent of corporate board seats are held by women in the U.S., according to the nonprofit Catalyst.org, which tracks issues surrounding women in the workplace. Norway boasts the highest percentage at more than 40 percent; Saudi Arabia has the lowest at 0.1 percent.