How to Negotiate for Yourself: A Vital Skill for Closing the Gender Pay Gap

Negotiating for yourself can be challenging. If you are a woman there are still implicit biases you might face, and self-doubt that can undermine your confidence and performance. Yet, knowing your worth and negotiating for it is crucial for advancing your career, increasing your income, and achieving your goals.

In the latest Women in Pharma Procurement meetup, our expert panel shared best practices for how to negotiate for yourself effectively, overcome common barriers, and close the gender pay gap.

Why it matters:

• Continuing gender pay gap: In 2021, women earned only 83% of what men earned in full-time wage and salary roles. After an MBA, the gap widened to 63% ten years later.
• The long game matters: A small difference in starting salary can have a huge impact on your wealth over time. For example, if you get a $100,000 salary and your co-worker negotiates up to $107,000, you would have to work eight years longer to be as wealthy as them at retirement.

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