Skip to main content
Northwestern Mutual Northwestern Mutual
Primary Navigation
  • Home
  • About Us
    • About Us Overview
    • Working With an Advisor
    • Our Financial Strength
    • Sustainability and Impact
  • Financial Planning
    • Financial Planning Overview
    • Retirement Planning
      • Retirement Planning Overview
      • Retirement Calculator Beach chair icon
    • College Savings Plans
    • Private Wealth Management
    • Estate Planning
    • Long-Term Care
    • Business Services
  • Insurance
    • Insurance Overview
    • Life Insurance
      • Life Insurance Overview
      • Whole Life Insurance
      • Universal Life Insurance
      • Variable Universal Life Insurance
      • Term Life Insurance
      • Life Insurance Calculator Shield icon
    • Disability Insurance
      • Disability Insurance Overview
      • Disability Insurance  For Individuals
      • Disability Insurance  For Doctors and Dentists
      • Disability Insurance Calculator Money Parachute icon
    • Long-Term Care
    • Income Annuities
  • Investments
    • Investments Overview
    • Brokerage Accounts & Services
    • Private Wealth Management
    • Investment Advisory Services
    • Fixed & Variable Annuities
    • Market Commentary
  • Life & Money
    • Life & Money Overview
    • Educational Resources About Financial Planning
    • Educational Resources About Investing
    • Educational Resources About Insurance
    • Educational Resources About Everyday Money
    • Educational Resources About Family & Work
    • Market Commentary
    • Podcast
Utility Navigation
  • Find a Financial Advisor
  • Claims
  • Life & Money
  • Family & Work
  • Your Career

5 Ways Women Can Help Close the Gender Pay Gap for Themselves

Part of our Women & Careers series

  • Marianne Hayes
  • Mar 15, 2022
Get paid what you're worth so you can boost your earning power and make faster progress on your financial goals. Photo credit: Getty Images
share Share on Facebook Share on X Share on LinkedIn Share via Email

As much progress as women have made in the workplace, that stubborn gender pay gap still exists: According to the Bureau of Labor Statistics, women made 83 cents to every dollar that men earned in 2021. And at the current rate of progress, the World Economic Forum estimates it will take roughly 136 years for the gap to close on a global level.  

Translation: It will always be important for women to advocate for themselves to ensure they are being paid what they’re worth. The good news is there are tangible steps you can take to help make that happen. Whether you’re looking to move up in your current job or want to find a new job altogether, here are five ways you can help close the gender pay gap for yourself.   

1. Don’t put off asking for a raise or promotion 

If it’s been a while since your last salary increase or promotion, or you've taken on new roles and responsibilities that go beyond your current title, don’t hesitate to remind your manager that you’d love to initiate a conversation about how you can be compensated for your efforts. 



"Many women wait, thinking someone's going to recognize their good work and reward them,” says Foram Sheth, cofounder and chief coaching officer at career coaching company Ama La Vida. “But this isn't a moment where you wait for someone to come to you — it requires you to be proactive.” 

A recent Glassdoor survey found that 73 percent of employed women did not ask for a pay increase during the pandemic, compared to 58 percent of men. “So the gender pay gap is influenced by women receiving raises at a lower frequency, but also receiving lower starting salaries and lower raise amounts,” says Benjamin  Artz, professor of economics at the University of Wisconsin–Oshkosh, who has done research on the gender gap in business. 

It helps to quantify what you bring to the company. “Show up with evidence of how much you're contributing to the organization so you can say, ‘I’m worth more because of all the things I do,’” Artz says. If you've completed projects that helped the company reach its revenue goals, call them out, while highlighting the average pay scale for someone in your position. Enlisting mentors or sponsors who can advocate for your work can go a long way.   



A raise likely won't happen overnight, but it's all about planting the seed, Sheth says. Waiting until your annual review to ask for a raise may be too late, as budget decisions for the following year may already be set in stone.

2. Don’t use your previous pay as a benchmark

If you’re on the hunt for a new job, don’t use your old or current salary as a starting point for negotiations. After all, if that figure has been subject to the wage gap up until now, basing future negotiations on it won't do much to help close the gap. That’s why a handful of states have made it illegal for prospective employers to ask about your salary history when going through the hiring process.  

The state of the job market also comes into play. The way we work has dramatically changed since the pandemic began. On average, close to 4 million U.S. workers quit their jobs each month in 2021, according to the Society for Human Resource Management. If you’re looking for better compensation, current labor demands could tip the scales in your favor.

“It’s the employee’s market right now,” Sheth says. “Be choosy about what you want and don’t settle for less.”

3. Research what a competitive salary should be

So how do you know where to start negotiating? This is where you need to do some market research by checking sites like Glassdoor or PayScale. Tap your peers and recruiters in your field for their insight as well. Then, ask for more. "The worst that can happen, especially if you're looking for a new job, is they'll just say no and come back with a lower number,” Sheth says. Have a good amount of experience or a particularly robust skill set? Sheth says to rate yourself even higher.  



And remember: Most organizations expect people to negotiate and will have a range to work within, so consider the first number they give you to be a jumping-off point. Overall compensation appears to be on the rise in the U.S. According to the Bureau of Labor Statistics, wages and salaries increased 4.5 percent from 2020 to 2021.

4. Think beyond salary 

If you need more motivation to push for a higher figure, remember that it’s not just your salary at stake — your pay will have a trickle-down effect on other financial goals like saving for retirement  or paying off debt.  



So how else can a potential or current employer help you get ahead in other areas of your finances? Does it offer a 401(k) match (and, if so, are you fully taking advantage of it)? Is the company open to benefits like helping you cover childcare? If you’ve asked your manager for a raise but it’s off the table right now, can they offer an on-the-spot bonus that you can put toward your financial goals?  



Advocate with human resources for the perks you think will help you the most. If management says they’d be willing to give you a pay increase or spot bonus a few months down the road, get it in writing.  



“It can be an email or some sort of a trail where you can come back and say, ‘Hey, I remember we had this conversation. I'm so excited about it; what's going to be our plan?’” Sheth says. She suggests thinking in terms of what you need. A more flexible work arrangement, for example, may be just as valuable as money.

“Consider what else you need to feel supported,” Sheth adds. “You may want to negotiate that the company pay for executive coaching or provide flexible mental health days. Think critically about what you need to feel sane and to grow, and protect that.”

5. Get a competing offer

Even if you’re happy in your current position, it never hurts to put some feelers out there or be open to opportunities that come your way. Getting a competing offer could be the thing that pushes your salary to the next level, Artz says — it shows management that other employers are willing to pay up for your talents and skills. “There's a little bit of risk attached to that, but it’s also one of the reasons that some people get raises at their jobs,” he says.  

He adds that income boosts are often tied to job switching and geographic movement. The latter could create built-in challenges for women, especially since two out of every three caregivers are female. The bright side is that the surge in remote work may allow you to entertain a competing offer that doesn’t involve relocating.

“Women in business professional occupations can now seek remote work opportunities that they otherwise never would have dreamed of pursuing,” Artz says.



No matter your strategy, one truth remains — overcoming the gender pay gap comes down to you. As Sheth puts it: “Take control of this because no one else is going to do it for you.” 

Social Security is an important part of your financial plan.

Your financial advisor can show you how Social Security will work to reinforce your retirement savings. And they’ll show you how it can help you live the life you want in retirement.

Let's get started
Left Dotted Pattern
Right Dotted Pattern

Want more? Get financial tips, tools, and more with our monthly newsletter.

Related Articles

article
Businesswoman thinking about asking for a raise

What Is the Highest Salary You Can Ask For? Career Experts Weigh In

Learn more
article
woman standing in front of a white board

6 Do’s and Don’ts of Asking for a Pay Raise

Learn more
article
woman thinking about what to do after learning a co-worker makes more

What to Do If You Find Out Your Co-worker Earns a Higher Salary

Learn more

Find What You're Looking for at Northwestern Mutual

Northwestern Mutual General Disclaimer

Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company and its subsidiaries. Life and disability insurance, annuities, and life insurance with longterm care benefits are issued by The Northwestern Mutual Life Insurance Company, Milwaukee, WI (NM). Longterm care insurance is issued by Northwestern Long Term Care Insurance Company, Milwaukee, WI, (NLTC) a subsidiary of NM. Investment brokerage services are offered through Northwestern Mutual Investment Services, LLC (NMIS) a subsidiary of NM, brokerdealer, registered investment advisor, and member FINRA and SIPC. Investment advisory and trust services are offered through Northwestern Mutual Wealth Management Company (NMWMC), Milwaukee, WI, a subsidiary of NM and a federal savings bank. Products and services referenced are offered and sold only by appropriately appointed and licensed entities and financial advisors and professionals. Not all products and services are available in all states. Not all Northwestern Mutual representatives are advisors. Only those representatives with Advisor in their title or who otherwise disclose their status as an advisor of NMWMC are credentialed as NMWMC representatives to provide investment advisory services.

Northwestern Mutual Northwestern Mutual

Footer Navigation

  • About Us
  • Newsroom
  • Careers
  • Information Protection
  • Business Services
  • Podcast
  • Contact Us
  • FAQs
  • Legal Notice
  • Sitemap
  • Privacy Notices

Connect with us

  • Facebook iconConnect with us on Facebook
  • X iconFollow Northwestern Mutual on X
  • LinkedIn iconVisit Northwestern Mutual on LinkedIn
  • Instagram iconFollow Northwestern Mutual on Instagram
  • YouTube iconConnect with Northwestern Mutual on YouTube

Over 8,000+ Financial Advisors and Professionals Nationwide*

Find an Advisor

Footer Copyright

*Based on Northwestern Mutual internal data, not applicable exclusively to disability insurance products.

Copyright © 2025 The Northwestern Mutual Life Insurance Company, Milwaukee, WI. All Rights Reserved. Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company and its subsidiaries.