Women should speak up about achievements to get better pay and top roles

Women should speak up about achievements to get better pay and top roles

Jayne Anne-Gadhia, CEO of Virgin Money, has said that women should be more vocal about pay and promotions in order to move ahead at their companies, Business Insider reports.

At an FT Women at the Top event in London last week, Anne-Gadhia said: “Financial services suffers from perception and the reality that there is an old boys’ network and yes — those cliques are hard to break into.

“However, those people argue for their remuneration and broadly — while this is a generalisation but actually comes through in the data — women don’t bang on the table and say ‘reward me’.”

Yet a recent report by Cass Business School found that women did request raises as often as men, but they are less likely to get it, and it has nothing to do with them being less assertive.

The report, Do Women Ask, in collaboration with the University of Warwick and the University of Wisconsin, found that even though women ask for a raise as frequently as men do, the latter stand a better chance (25 per cent) of getting the pay boost.

The paper’s co-author Andrew Oswald, a University of Warwick professor, said the findings indicated that there was an element of “pure discrimination” against women, when it comes to recognition and rewards at work.

Anne-Gadhia said: “Women usually hope that their hard work will be recognised without asking for it while men [are more likely to be assertive in asking for a pay rise or promotion]. This stops women rising in financial services.”

At the same event, the secretary of state for education and minister for women and equality, Justine Greening, said: “No country can truly develop if it locks out half its population.”

She urged businesses to work with the government to level the gender playing field: “Getting more women participating in work is not just good for them, but critical for UK economy,” she said. “Businesses need to use their organisations, their networks, and client relationships in ensuring greater gender equality at their companies.”

 

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