Where can you invest your money and receive a 23% return? How about looking in the mirror?
The oft quoted figure that states women make $.77 for every one dollar a man makes is about to become history…that is, if you take the initiative and invest in yourself.
Ask for a Raise!
In a recent article on the 85 Broads site (more about that site later – check it out in the meantime), contributor, Sallie Krawcheck shares her advice on the best investment women can make today in their career in the article The Highest Return Investment. Sallie puts it in easy to understand terms that we just can’t ignore:
“…if a woman were to earn at parity with a man, that represents a return of 30% per annum on her current salary…. which compounds. (!) One can’t get that return on government bonds (now yielding in the low-single-digit-per-cents) or in the stock market on a consistent basis (even in the bull market since the crash, the US market has returned less than half of that annually).
Yes, asking for a raise is fraught, and gender challenges abound; indeed there have been best-selling books advising women on how to ask for raises. (Cliff Notes version: Be fact-based and unemotional, and don’t apologize for asking or run on for too long.)
You can make more without leaving your current position – you just have to ask for it.
The local morning news show Live on Lakeside asked me to offer some suggestions for asking for a raise and getting it. Check out the interview here:
Now that you know the answer to making 23 cents more on every dollar – what is keeping you from asking for a raise? Check the Huffington Post article 9 Things to Never Say When Asking for a Raise. Here’s a quick tip: NEVER Tell Your Boss, “I Am Already Doing Your Job, I Should Make What You Make.”
Put your plan of action in place and then go for it! Best of luck!!