💸 Hesitating to Ask for a Pay Rise Can Cost You Millions (time to change that)

Many women delay or avoid salary negotiations out of fear, timing, or the hope that hard work will be noticed on its own. But staying quiet has massive long-term financial consequences and we are not here for that. 

Not asking for even small annual pay rises (like 2–5%) can leave you over $1 million worse off over your career due to the power of compounding.

👩💼 Real-Life Scenarios

The woman who never asked: After 10 years without raises, she could be earning $26K less per year. Over decades, that adds up to $1m+ in lost income.

The woman who accepted the first offer: Saying yes to a starting salary that’s $10K too low can snowball into a $1m+ gap over her career due to percentage-based raises.

The woman who turned down a promotion: Saying no to leadership roles can mean missing out not just on the immediate pay bump, but on future visibility, promotions, and wealth.

🧠 It’s Not Just Money - It’s Confidence & Opportunity

These aren’t just financial losses, they impact self-worth, career momentum, and long-term choices like buying a home or investing.

Hesitation is often rooted in social conditioning. We hate to say it but we all know women face more backlash when negotiating, and are often taught to be agreeable, not assertive. Lets rebrand! Being assertive is hot and being paid what you deserve is cool. No more taking the crumbs! 

🚀 What Needs to Change

Systemic fixes like pay transparency, better parental leave, and fairer policies are essential, but they take time. In the meantime, you can:

• Research your worth (ask others in the industry with similar experience and don’t forget to ask MEN as well as women) 

• Practice negotiating - it’s a skill! You’re not expected to be good at it straight away - listen to this episode we did a while ago with the BRILLIANT Meggie Palmer. She is the queen of making sure you get paid what you deserve. 

• Ask early and often

Remember: it’s not just one pay rise - it’s every one after it, too. Every time a woman leaves money on the table, it’s not just her wealth that suffers - it’s a loss to the whole economy. The gender pay gap isn’t just unfair - it’s genuinely unproductive.

Credits

https://www.afr.com/wealth/personal-finance/what-not-asking-for-a-pay-rise-does-to-women-s-lifetime-wealth-20250306-p5lhf9?utm_content=INTRODUCTION&list_name=6F1A46D6-E44D-4296-AFD9-50BA7211B585&promote_channel=edmail&utm_campaign=afr-wealth-generation&utm_medium=email&utm_source=newsletter&utm_term=2025-03-26&mbnr=MzIzOTQ2NjE&instance=2025-03-26-15-00-AEDT&jobid=31320818