I’ve noticed that in the personal finance and FI/RE community that so many people are focused on creating new income sources, which I do think it very useful but increasing your income in your career is just not spoken about enough!
I wanted to start a series showcasing women across different fields and experience levels to show that you can negotiate and how it has impacted their financial journey
The title was initially inspired by a post I saw on LinkedIn outlining the negative impacts the #GirlBoss culture can have on women in the workplace. For example, a successful CEO of a tech company is just a CEO not a She-E-O. Instead of helping women rise up, it actually does the opposite by diminishing credibility and authority.
I wanted to combine the importance of growing in your career with your financial independence journey. The “side hustle” culture promotes this stance that it is okay that you are being underpaid and you will find new sources of income elsewhere.
I am saying that you should get paid what you are worth and get paid for whatever impressive side project you are work on as well. Saving more is important for your financial journey, but earning more just make it all easier.
Women on Average, still earn $0.80 for every $1.00 a Man earns
A big piece of this really comes down to negotiating and women are just far less likely to even negotiate in their careers.
Take me for example…
When I graduate college and started my first full-time job, I thought since it was a more official program that I was not able to negotiate and that my salary was set in stone but little did I know my male counterpart who started from the same exact university as myself actually negotiated a 10% higher starting salary and an addition $5,000 in relocation.
After this happened, I promised myself I would never not negotiate for a role again!