A Fee-Only financial planner can help you manage the money you have and advise you on how to reach your financial goals. Depending on your relationship, a financial planner may offer advice on how to increase your funds. But it is unlikely that your financial planner will be present when you negotiate your salary, fees, or the selling price for a property. Women not only need to manage the money they have, they need to make certain that they are being paid fairly in work and in business transactions. A financial planner can help you manage your money better and it helps if you have more to manage rather than less.
We previously discussed research on women and negotiating salary offers (Women and Negotiating: Is It Worth the Risk?) and found that the results of that research were less than encouraging. These results did not conclude that women simply need to negotiate to earn more but rather that women need to be strategic when negotiating and remain aware that men and women may not feel comfortable with a woman who has the confidence to negotiate.
With that in mind, WAMU.org reported on a group that is Training 10 Million Women to Negotiate Higher Salaries—For Free via an online course and workshops being held all over the country:
“The AAUW salary negotiation program is a free course available online. The idea stemmed from an AAUW study last year that found the average gender pay gap had improved slightly from 77 cents on the dollar to 80 cents. However, that number is still much greater for women of color. African American women are paid just 61 cents for every dollar made by a man. Latina women just 53 cents. AAUW officials say this adds up to women losing out on more than $500 billion in wages every year.”
There are also professionals who work with and coach individuals to help them with the salary negotiation process. Some work with anyone; while others, specialize in helping women.