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Negotiation for Women


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Find out why women don\'t, why they should, and how to do it effectively............ as a woman, without losing your core values.

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Negotiation for Women

  1. 1. W.E.A.P.O.N. International<br />Women Everywhere and the Power Of Negotiation<br />
  2. 2. In Canada:<br /> In 2008 there were only 31 women in the top offices in Canada ’s top 100 publicly traded companies.  Of these top companies, ranked by revenue, according to the Rosenzweig Report: <br />74% are run at the highest levels by men only. <br />94.2% of the highest paid are men. <br />97 of these top 100 have a male C.E.O. <br />There were only 3 women in these top 100 companies that are C.E.O.s: <br />1. Nancy Southern of ATCO/Canadian Utilities <br />2. Linda Hasenfratz of Linamar <br />3. Kathy Bardswick of Co-Operators General Insurance.<br />
  3. 3. Women in the Top Ranks<br />RBC Financial Group is the ONLY Company with multiple women in the top ranks: <br />C.O.O. Barbara Stymiest (also the 8th most powerful Woman Banker in the world) <br />C.F.O. Janice Fukakusa<br />RBC is also listed as the number 1 ranked company based on revenue.  (And they have the most women in top level positions....coincidence????) <br />In the U.S. , using the Fortune 500 list, women held only 6.7% of the top earner positions. <br />
  4. 4. Work harder, make less<br />The majority of the poor in Canada are female. According to a Statistics Canada report on women, one in five Canadian women lives in alow-income situation. Those at highest risk of poverty are female, unattached seniors; young, unattached women; female lone parents; women with disabilities; Aboriginal women; and visibleminority women.<br />The gap between the rich and the poor in Canada is growing, and women and children are on the losing end. Statistics Canada reports thatbetween 1993 and 1996, the low-income rate increased as economic recovery progressed. This trend was particularly strong among children — a significant departure from the 1980s, when rising government transfers to low-income families helped stop poverty rates from rising.<br /> More and more women hold down two or three jobs to put together a full-time wage. In the last 10 years, the number of women holdingmultiple jobs has grown by 45%, while the number of men holding multiple jobs has risen by only 4%. In 1999, 52% of the 725,000 multiplejob holders were women.<br /> <br />
  5. 5. Less income now, less income later<br />• Wage inequity follows women for life. Because the Canada Pension Plan is based on an individual’s earning history, many women retire into poverty. The average CPP benefit currently paid to women is $285 per month; for men it is $410 per month.<br />
  6. 6. According to Statistics Canada(2005):<br />Women with graduate or professional diploma earned 96 cents for every dollar earned by men. <br />A batchelor degree earned women 89 cents for every dollar<br /> Apprenticeship and trades certificate level, the ratio slipped to 65 cents for every dollar<br />Women are over-represented in low-paying jobs<br />Average wage: Men: $37,680<br /> Women: $32,104<br />
  7. 7. 2006 Consensus Report<br />The older the workers, the bigger the gap<br />The ratio for workers is reported as follows:<br /> 30-34 $.79 <br /> 35-39 $.75<br />40-44 $.73<br />45-54 $.72<br />
  8. 8. Total compensation packages<br />Women still make 89 cents for every dollar a man earns. <br />Total compensation for women CEOs is also lower than male CEOs.  Women’s pay packages (including stock option profits and other equity) is only 85% of men’s. <br />
  9. 9. Do you ask for what you want?<br />Ask yourself these questions: <br />Do you know what others in your field are being paid? Is your wage equal to this?<br />Does your title accurately describe your role in the company? <br />Do you get recognition and compensation for achievements? <br />Have you upgraded your skills and knowledge to benefit the company?  Did you receive recognition and compensation or promotion for these accomplishments? <br />Are you given projects that challenge and energize you?  Do these projects gain you recognition/compensation for your achievements? <br />Does your boss know what your goals are? Do you tell them when you want a certain promotion or position? <br />Do you ask for what you want?<br />
  10. 10. Women Suffer When They Don't Negotiate<br />By not negotiating a first salary, an individual stands to lose more than $500,000 by age 60. Men are more than four times more likely than women to negotiate a first salary. <br />Starting salaries for men graduating from Carnegie Mellon, a U.S. University were 7.6 percent higher than for women — a difference of almost $4,000. Through negotiation, the men were able to improve their starting salaries by 7.4 percent, or about $4,000.<br />In 2001 in the U.S., only 10.9 percent of the board of directors' seats at Fortune 1000 companies were held by women. <br />Women own about 40 percent of all businesses in the U. S. but receive only 2.3 percent of the available equity capital needed for growth. <br />
  11. 11. Women Have Lower Expectations and Lack Knowledge of Their Worth<br />Many people, but especially women, are so happy with a job offer that they fail to negotiate their salary.<br />Women don't know their market value: women reported salary expectations between 3 and 32 percent lower than those of men for the same job.<br />Men expect to earn 13 percent more during their first year of full-time work and 32 percent more at their career peak. <br />
  12. 12. Barriers:<br />The Glass Ceiling <br />The Ole Boys Club<br />Lack of Self Promotion <br />Stereo-typing (still alive and well!)<br />Lack of Self Worth<br />
  13. 13. Men do...... Women don’t<br />Most men Negotiate, most women don’t<br />Most men self-promote, most women don’t<br />Men consider negotiation standard behaviour and ‘fun’....women associate it to ‘pulling teeth’<br />It is accepted and expected for men, but not for women<br />Women give up or back down too easily <br />Women lack self confidence when they negotiate and give the other person power<br />Men ask for more than what they want, women ask for less<br />
  14. 14. What Women Do:<br />Wait, someone will notice my accomplishments<br />I don’t want to seem pushy<br />Perhaps I’m not worthy of that promotion<br />He must have deserved it more than me<br />It’s rude to bargain<br />Women with drive and determination are trouble makers and ‘unlady-like’<br />I’m probably already making too much<br />If I asked, I might get fired, or the boss will be mad at me<br />
  15. 15. What Men Do:<br />Men talk about their accomplishments and expect to be rewarded for them<br />Men seek out compensation for achievements<br />Men go after what they want<br />It is accepted and expected for a man to negotiate for what he wants<br />A man will even negotiate for what he is GOING to do in the future<br />
  16. 16. Benefits of Negotiating<br />What one receives in C.P.P. is based on their lifetime wages; higher wage now means higher pension at retirement <br />Psychological advantage – if you are more expensive, you are worth more (more valuable)<br />Earn respect by asking for what you want<br />Higher wages is perceived to mean your performance is better than others<br />50% of women support themselves and/or their families on one income...theirs<br />Higher wages mean more spending power, which in turn helps society<br />Women will be able to excel in leadership roles at top level positions and bring more talent and skills to these positions<br />Young girls and women just entering the workforce will earn more than half a million dollars (minimum) more in wages over their career lifetime than women do now.<br />Men also benefit what women negotiate for. When women negotiate, it sets the precedent for all ie (parental leave is now for BOTH parents)<br />
  17. 17. What can women do?<br />Recognize opportunities to negotiate<br />Master basic negotiation skills<br />Learn how to assess and strengthen your bargaining power<br />Research, prepare and practice before negotiating<br />Use ‘Win-Win’ negotiation strategies<br />Learn how to negotiate with men and other women<br />
  18. 18. Pass it on!<br />Women need to learn why they must negotiate, when and how<br />Men need to learn that it is a good thing when women negotiate<br />We need to teach our daughters and granddaughters<br />We need to teach those just entering the workforce and those already working<br />University, college, high school and public school students need to learn and harness the Power of Negotiation<br />We need to learn and then teach others <br />
  19. 19. W.E.A.P.O.N. CANADA<br />Women Everywhere And the Power Of NEGOTIATION <br />Thank you!<br />