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How Much are You Worth? (It’s more than you think!) A  DAWEG  Seminar Aimed at Senior Women Engineering and Geoscience Stu...
Don’t Sell Yourself Short <ul><li>The decision to hire you is the “big” one.  </li></ul><ul><li>Salary negotiations genera...
Don’t Sell Yourself Short II <ul><li>Letting yourself go “cheap”  reduces  your value to your company. </li></ul><ul><li>S...
The Numbers Game <ul><li>In negotiations, whoever names the number first loses. HR people may ask:  How much?  They are do...
Other Salary Tools <ul><li>http://www. hitechsalary .com/index. cfm </li></ul><ul><li>(salaries seem a bit high, but will ...
Don’t Sell Yourself Short III <ul><li>Carefully review any contract you are ask to sign.  If there are things you can’t ag...
Take Your Time <ul><li>Don’t “jump” at the first offer you get.  Take your time, and consider each offer carefully - you c...
Act Professionally <ul><li>Once you have accepted an offer you cannot turn around and accept another (better offer) from a...
Gender Based Pay Inequities <ul><li>Anyway you slice it, they exist – so it is good to be aware of these issues. </li></ul...
Statistics Canada Data (Full Time Earnings) <ul><li>Area of Employment Female % of Male </li></ul><ul><li>Computer Service...
1996 APEGBC Survey: salary and responsibility level by year of graduation
1998 APEGBC Survey: salary and responsibility level by year of graduation
2000 APEGBC Survey: salary and responsibility level by year of graduation
2002 APEGBC Survey: salary and responsibility level by year of graduation
1996 APEGBC Survey: compensation versus responsibility level
1998 APEGBC Survey: compensation versus responsibility level
2000 APEGBC Survey: compensation versus responsibility level
2002 APEGBC Survey: compensation versus responsibility level
Analysis I <ul><li>Median salaries for women are lower than men, no matter how you look at the numbers. </li></ul><ul><li>...
Analysis II <ul><li>For both sexes, compensation per “experience point” goes down until it reaches a certain level (700 pt...
Conclusions:  Knowledge is Power <ul><li>Know the starting salaries of your peers. </li></ul><ul><li>Know the recommended ...
Stay Connected <ul><li>As an EIT/GIT or P.Eng./P.Geo, DAWEG is your organization, for networking, workshops, symposiums, a...
1994 APEGBC Survey: salary and responsibility level by year of graduation
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How Much Are You Worth

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Transcript of "How Much Are You Worth"

  1. 1. How Much are You Worth? (It’s more than you think!) A DAWEG Seminar Aimed at Senior Women Engineering and Geoscience Students by E. Croft, P. Eng. and K. Savage P. Eng.  1999-2006 DAWEG, E. Croft and K. Savage
  2. 2. Don’t Sell Yourself Short <ul><li>The decision to hire you is the “big” one. </li></ul><ul><li>Salary negotiations generally won’t affect it. </li></ul><ul><li>Future pay raises are increments of your starting salary. </li></ul><ul><li>APEGBC Recommended 2002 starting median salary is: $46,850. Considering current inflation rates that’s about $50,700 for 2006 . If there is anything that makes you more than mediocre , then ask for more! </li></ul>
  3. 3. Don’t Sell Yourself Short II <ul><li>Letting yourself go “cheap” reduces your value to your company. </li></ul><ul><li>So know your own worth. One tool you can use is the APEGBC Compensation Survey: </li></ul><ul><li>http://www.apeg.bc.ca/library/compsurvey.html </li></ul><ul><li>Compare yourself fairly to your peers – networking pays – find out what others are being offered in comparable jobs . </li></ul>
  4. 4. The Numbers Game <ul><li>In negotiations, whoever names the number first loses. HR people may ask: How much? They are doing this as part of their evaluation. </li></ul><ul><li>You can answer with questions: </li></ul><ul><ul><li>What is the salary range for this position/others like it in the company (you should try to find this out ahead of time) </li></ul></ul><ul><ul><li>How do your compensation levels compare to the APEGBC recommendations, or to the industry average (Mech, Civil, EECE, etc.) (Warning! HR people do NOT like these surveys) </li></ul></ul><ul><li>You should be prepared to discuss the question. Knowing how much you want demonstrates self-confidence and self-worth – but don’t get cornered into a naming a number – that is THEIR job. </li></ul>
  5. 5. Other Salary Tools <ul><li>http://www. hitechsalary .com/index. cfm </li></ul><ul><li>(salaries seem a bit high, but will give you a ball park – specific to cities in Canada) </li></ul><ul><li>https://www. payscale .com </li></ul><ul><li>(specific to cities in Canada – salaries seem reasonable) </li></ul><ul><li>Job Advertisements often list pay scales. </li></ul>
  6. 6. Don’t Sell Yourself Short III <ul><li>Carefully review any contract you are ask to sign. If there are things you can’t agree with, black them out and initial the blackouts before you sign. Make sure you keep a copy of your contract. </li></ul><ul><li>Make sure the process for review and advancement is clearly understood. Your first review should be within 6 months. </li></ul>
  7. 7. Take Your Time <ul><li>Don’t “jump” at the first offer you get. Take your time, and consider each offer carefully - you can ask for at least a few days. </li></ul><ul><li>Engineering is cyclical, it has slow times and hot areas…Sometimes it may take a year or so to find full time employment; this isn’t abnormal - stay networked and current through courses, professional volunteer activities, conferences, etc. </li></ul>
  8. 8. Act Professionally <ul><li>Once you have accepted an offer you cannot turn around and accept another (better offer) from another company. </li></ul><ul><li>HR professionals talk to each other – be warned. </li></ul><ul><li>Do not directly discuss other offers during negotiations – this usually provokes a highly negative response. </li></ul>
  9. 9. Gender Based Pay Inequities <ul><li>Anyway you slice it, they exist – so it is good to be aware of these issues. </li></ul><ul><li>Lets have a look at the numbers... </li></ul>
  10. 10. Statistics Canada Data (Full Time Earnings) <ul><li>Area of Employment Female % of Male </li></ul><ul><li>Computer Services 95% </li></ul><ul><li>Telecommunications 85% </li></ul><ul><li>Engineers/Architects 74% </li></ul><ul><li>Civil 77% </li></ul><ul><li>Mechanical 67% </li></ul><ul><li>Electrical 87% </li></ul><ul><li>Chemical 66% </li></ul>
  11. 11. 1996 APEGBC Survey: salary and responsibility level by year of graduation
  12. 12. 1998 APEGBC Survey: salary and responsibility level by year of graduation
  13. 13. 2000 APEGBC Survey: salary and responsibility level by year of graduation
  14. 14. 2002 APEGBC Survey: salary and responsibility level by year of graduation
  15. 15. 1996 APEGBC Survey: compensation versus responsibility level
  16. 16. 1998 APEGBC Survey: compensation versus responsibility level
  17. 17. 2000 APEGBC Survey: compensation versus responsibility level
  18. 18. 2002 APEGBC Survey: compensation versus responsibility level
  19. 19. Analysis I <ul><li>Median salaries for women are lower than men, no matter how you look at the numbers. </li></ul><ul><li>As experience goes up, women are increasingly underpaid compared to their male counterparts (based on both years from graduation, and “experience” points). </li></ul>
  20. 20. Analysis II <ul><li>For both sexes, compensation per “experience point” goes down until it reaches a certain level (700 pts) after which compensation goes way up! </li></ul><ul><li>Unfortunately, the glass ceiling is as hard as rock! No statistical data for women above about 600 pts! </li></ul><ul><li>SO… WHAT CAN YOU DO? </li></ul>
  21. 21. Conclusions: Knowledge is Power <ul><li>Know the starting salaries of your peers. </li></ul><ul><li>Know the recommended starting salary. </li></ul><ul><li>Re-evaluate your salary/experience EVERY year – the largest increases in your salary occur when you move to a new job. </li></ul><ul><li>Keep your resume up to date as well – and ready to go. </li></ul>
  22. 22. Stay Connected <ul><li>As an EIT/GIT or P.Eng./P.Geo, DAWEG is your organization, for networking, workshops, symposiums, and just getting connected! MEN are WELCOME!!!! </li></ul><ul><li>EMAIL: dawegaccount@hotmail.com </li></ul><ul><li>WebPage: www.mech.ubc.ca/~daweg </li></ul>
  23. 23. 1994 APEGBC Survey: salary and responsibility level by year of graduation
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