Exploring the gender pay gap

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PARTY PLAN 🎉

💰 Exploring the gender pay gap

🤨 CEO predicts the death of remote work

✖️ Don’t accept these jobs

And, of course, MEMES!

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PAY DATA

Exploring the Gender Pay Gap

The gender pay gap has been a hot topic in the workforce for the last few decades or so. Some say it’s a myth, some say it’s not, and some say it depends on the data account for variables like industry.

Axios decided to take a look at the top to see what they could find.

So there is a pay gap!

According to the report, which analyzed median CEO compensation for companies in the S&P 500, female CEOs earned $16.5M/year compared to male CEOs $15.6M/year.

The fellas aren’t doing too bad either. A similar gap existed for CEOs at Russell 3000 firms — women's median pay is $6.7 million, compared to $6.1 million for men.

While this looks exclusively at CEOs, it would be interesting to do a deep dive on the current pay gap in non-executive workers.

(Maybe on another Office Party edition)

REMOTE WORK

CEO Predicts the Death of Remote Work

All the employee satisfaction surveys say the same thing — workers want one thing above all else: flexibility.

People want to work from home. Most people are even willing to take a pay cut or pass on promotions for the option to work remotely.

Surely company leaders are making plans to adjust their company structure to allow employees what they’re asking for, right?

Wrong.

According to a new report from KPMG, the majority of CEOs (80%) predict remote arrangements will be dead within three years or less. The report surveyed over 1,300 CEOs worldwide, and the majority said they’ll even reward workers who come back to the office with choice assignments, raises, and/or promotions.

But they’ve already said they don’t want it!

Some workers continue to fight back or just ignore RTO policies altogether, but it seems like most people are finally accepting their fate.

Employees at 9 in 10 companies expect to be fully back in office by the end of the year, according to a survey by Resume Builder.

70% of workers say that RTO has had a direct, positive impact on their company’s revenue, so it seems pretty certain that CEOs will continue to press their case.

JOBS

Don’t Accept These Jobs

It’s easy to start making concessions when you’ve been on the job hunt for months and haven’t made any progress.

It’s okay to make some compromises, but career experts at Forbes are warning job seekers of 4 red flags to avoid at all costs:

1. The company has a bad track record

• Always do your research before considering and accepting a job offer. Look at employee reviews from websites like Glassdoor to see details about the company, both the good and the bad. You can also connect with current and past employees on LinkedIn and ask about their experiences. If most of the feedback and reviews point toward the negative, then it’s a sign that you should steer away from them. Another thing you should consider about their track record is high employee turnover, which could mean people are dissatisfied, burnt out, or stressed.

2. The manager is disorganized

• Job interviews are obviously essential for companies to determine who to hire, but they can also be an opportunity for the applicant to gauge whether the job and the company are a good fit. When doing an interview, observe the interviewer too. If the manager seems disorganized in the flow and does not know who you are or what role you’re applying for, that is a major red flag.

3. They’re lowballing the salary offer

• This one is obvious. Most job seekers will be put off by this right away. Nearly half (41%) of workers surveyed by FinanceBuzz believe they are currently underpaid for their role, with many saying that their salaries have not kept up with inflation. If they’re lowballing the salary offer, think about other things they deprioritize on employees' well-being. They might not have a good training program for new employees, paths for career development, and just an overall lack of support and resources for employees to succeed in their roles.

4. The work environment is toxic

• Don’t neglect your well-being by jumping into a toxic work environment just to be employed. It will eventually lead to high levels of stress and anxiety that could take a toll on you, making it difficult to perform at your best and enjoy your work. Stay away from companies that promote unhealthy work habits like staying late due to heavy workloads or working on weekends, unrealistic expectations, lack of boundaries, and lack of communication. Aim to be in a team that encourages you to gain new skills and offers growth opportunities.

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