Women are facing a persistent gender pay gap in the marketing industry, and this gap is also present up to the C-suite. Governments across the EU and beyond prioritize reducing this gap, but the progress has been slow. Women often attribute these circumstances to themselves instead of recognizing the need for reformative action from the system, leading to stress, depression and anxiety. It is not only about employers exploiting women in tech, but also about women becoming more self-assured and confident of the value they add to their field. Women tend to negotiate their salary during job offers less frequently than men do, due to a lack of confidence, impostor syndrome, and other prejudices.
A recent survey from Columbia University showed the connection between women's anxiety and gender pay gaps. The study authors suggested that underlying structural discrimination contributes to women's disproportionate reports of depression and anxiety, particularly if women are internalizing discriminatory acts as a reflection of their low worth.
Our 2023 MarTech Salary and Career Survey showed that women in marketing earned, on average, 24% less than men. This is an improvement on last year’s 30% disparity. Although the pay gap persists, we can see women beginning to bridge it by taking action and showing their value.
Women of color face two simultaneous obstacles – racial and gender pay gaps. Black and Hispanic, or Latina women earn less than men of the same race/ethnicity, and Asians outearn any other ethnicities, with women having higher compensation than men.
Reducing the gender pay gap requires a collaborative effort from individuals, employers, and policymakers alike. Women can take steps to increase earnings and career opportunities, such as negotiating their salary and expanding their network within the industry. By conducting thorough market research and crafting a compelling argument, women can take a proactive step toward narrowing the gender pay gap. They should also remember that they are valuable members of their teams and that their contributions matter. Ultimately, these steps can make meaningful strides toward closing the gender pay gap in marketing and beyond.
Originally reported by Martech: https://martech.org/the-gender-pay-gap-in-marketing-should-women-be-more-assertive-or-the-market-be-more-responsive/
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