Tag Archive: Financial Communications


It’s not really about asking for the raise but knowing and having faith that the system will actually give you the right raises as you go along. And that I think might be one of the additional superpowers that quite frankly women who don’t ask for raises have. Because that’s good karma, that’ll come back.” – Microsoft CEO Satya Nadella

Was inarticulate re how women should ask for raise. Our industry must close gender pay gap so a raise is not needed because of a bias.” – Nadella follow-up tweet

satya

The new Microsoft chief hit the wrong button on his PowerPoint clicker …

Or will his dentist find foot prints in his mouth?

Women should not ask for pay raises and just rely on “Karma.”

There is no Namaste at Microsoft today.

Sexism is Alive and Well

As Almost DailyBrett has previously commented sexism still lurks, even in women-dominated professions, including public relations.

Working at Edelman Public Relations five years ago, our Silicon Valley office was 134 kind souls, 110 with XX chromosomes. There was no line at the men’s room, simply because representatives of the knuckle-dragging gender were in short supply. Nonetheless, we male folk were well compensated.

Looking around my public relations and integrated marketing communication classrooms at Central Washington University, approximately three-out-of-every-four students is female. A comparable trend exists at the University of Oregon and conceivably other universities teaching public relations and communications around the nation.

And despite the undeniable numerical superiority for women practitioners, there is a pervasive, stubborn and resolute pay gap between men and women in public relations. According to a San Diego State School of Journalism & Media Studies quantitative study of Public Relations Society of America (PRSA) members, published in Public Relations Journal, male public relations practitioners earn on the average $84,368, compared to women at $76,063. That amounts to an $8,305 difference in annual salary between the two genders. At first glance, that figure sounds relatively close.

However, the magnitude of the different pay for equal work comes into play when you multiply the $8,305 delta over the course of a 40-year career, bringing the total to a staggering $332,200 loss of earning power for women practitioners, their children and their families.

Microsoft’s Nadella is undoubtedly one bright dude, but he made comments Thursday that are not smart. Weren’t blacks told to chill out, have faith and wait out inequality? That seems to be the message that Nadella extolled about pay inequity in the workplace. Nadella upon reflection (and probably a kick in his nether region by Microsoft’s PR department) fired off the obligatory apology tweet … but the damage was done.

karma

“Rounding Error”

One of my former students was being offered an entry-level job by a West Coast public relations agency. She was thrilled by the prospect of a $33,000 annual salary and believe it or not: Three weeks of annual vacation (try taking off 15 working days at any major agency).

When it was suggested that she not take the first offer, and to ask for $2,000 more per year (essentially a rounding error for the finance department of a multi-million-dollar agency), she initially balked. Eventually she diplomatically said she needed a $35,000 salary, and the hiring manager didn’t even blink.

Upon reflection, she said (her words, not mine) that women are not good in negotiations and asking for what they want. Almost DailyBrett has no empirical data to confirm or deny that assertion, but she was convinced it was true.

What Must Be Done

Do public relations, marketing, social media and investor relations professors and instructors have a role to play in closing the communications salary pay gap between men and women? The answer is affirmative particularly when it comes to mentoring.

What jobs pay more? Technicians or managers? Let’s face it, technicians will always be paid in the five-figure range, the only variable is what is the first number. Some women may prefer working behind the scenes and being an integral part of a team. That’s fine, but these jobs most likely will never lead to six-figures.

Why not encourage more women students to be leaders of teams and to train for management in public relations, marcom, investor relations or social media? When asked why he robbed banks, Willie Sutton said “that’s where the money is.”

There is also a major difference in pay rates within communications segments: Investor relations, financial communications and corporate public relations pay very well, non-profit and community relations not so much.

The average pay for practitioners in investor relations/financial communications is $117,233 … ka-ching. For corporate public relations, professionals are earning on an average, $88,827 … conceivably with managers, directors and vice presidents making above the median.

Conversely, community relations jobs pay $63,437 and non-profit positions, $62,275. Think of it this way, it is a big leap from the median to the six-figure mark for those working in community relations and/or non-profit.

Should women students be encouraged to seriously consider managerial positions, particularly those in high-paying investor relations, financial communications and corporate public relations disciplines? The answer seems obvious.

Ultimately, the choice will be made by the graduating student as she embarks into the wide-ranging field of public relations, marcom, investor relations and social media. Her decision and those made by literally thousands of her colleagues may play a pivotal role in closing the public relations gender pay gap once and for all.

http://mashable.com/2014/10/09/microsoft-ceo-women-karma-raises/?utm_cid=mash-com-fb-main-link

http://techcrunch.com/2014/10/09/microsoft-ceo-opens-mouth-inserts-foot-on-gender-pay-gap/?ncid=rss

https://almostdailybrett.wordpress.com/2013/10/01/addressing-the-gender-pay-gap-in-public-relations/

 

 

The shattered pieces of the glass ceiling may lie on the floor, but no one is partying.

In case you haven’t noticed it, women dominate the profession of public relations.

When I was a senior vice president at A&R Edelman in San Mateo, CA, there were 134 on our staff, 110 were women.

There was no line for the men’s room; physiology had nothing to do with it.

Teaching and lecturing upper-division public relations courses at the University of Oregon School of Journalism and Communication, more than once I entered a classroom and there was not a male face to be found.

Who invited me?

The ratio of women-to-men students majoring in Public Relations at UO is north of 7-to-3. Similar women-to-men out of balance ratios can be found at other university PR departments.

gender1

Women may be dominating in numbers, but compensation is sadly a very different story.

San Diego State School of Journalism & Media Studies Professors David M. Dozier, Bey-Ling Sha and Hongmei Shen reported the pay differentials between men and women in public relations in their Why Women Earn Less Than Men: The Cost of Gender Discrimination in U.S. Public Relations.

The quantitative study of Public Relations Society of America (PRSA) members, published in Public Relations Journal, revealed that male public relations practitioners earn on the average $84,368, compared to women at $76,063. That amounts to an $8,305 difference in annual salary between the two genders. At first glance, that figure sounds relatively close.

However, the magnitude of the different pay for equal work comes into play when you multiply the $8,305 over the course of a 40-year career, bringing the total to a staggering $332,200 loss of earning power for women practitioners, their children and their families.

That’s serious money.

You could outright buy a very comfortable house in Eugene, Oregon with that amount or maybe make a down payment for a home in Silicon Valley. More than $300,000 is the difference between a comfortable retirement, and being forced to flip hamburgers in your Golden Years.

Dozier, Sha and Shen offered several potential explanations for this inequity including differences in experience, career-interruptions (e.g., babies and family) and simply because of gender.

gender2

One area that was studied by these San Diego State profs that still needs more attention are choices of specific jobs made by the two genders. The academics noted that corporate PR shops ($88,823 average salary) had more men, while non-profits ($62,275 average salary) were composed of more women. There is a major difference in pay and yet more women gravitate to non-profits than men. America is a free country, but are non-profits the right choice?

Community relations pays on the average $63,437 annually. In contrast, financial relations provides the highest rate of compensation in the industry, an average of $117,233 per year. Are enough women focusing on investor relations and corporate public relations? IMHO, they should. Not only do these categories pay extremely well, they also require one to be talented both qualitatively (e.g., developing relationships with buy-and-sell-side analysts) and quantitatively (e.g., reading income statements and balance sheets).

There is also the question of the technician vs. manager divide as the former will most likely always be compensated in five figures, while the latter potentially leads to the six-figure salaries. Every profession needs worker bees, but there is no justification for one gender making up the majority of subordinates.

What can college and university instructors do to help rectify this inequity? The word “mentoring” comes immediately to mind. What if…

● We encourage women public relations majors to take Strategic Business/Financial Communications and other business communications classes to have a better understanding of businesses. Every organization – for profit or non-profit – operates on the basis of an income statement and a balance sheet. Remember GAAP (Generally Accepted Accounting Principles) is your friend.

● In group settings, more times than not, it is the male of the species that is clamoring to be the group leader. Why don’t we quietly encourage more women students to lead these groups? If this experience is positive, it could spur more women to pursue the road-to-six-figure managerial jobs. Yes, industry always needs its technicians, but skilled managers as well.

● Another huge positive that comes from group leadership is the management of people. Keep in mind, not everyone is cut out to supervise and encourage employees. Having said that, organization management is a skill that will always be in demand, and it cannot be effectively outsourced.

● We present the full gambit of positions that are available in public relations, not just community relations, internal communications and non-profit communications, but corporate public relations, investor relations, reputation/brand management and crisis communications.

Guess which ones pay the most?

● The same also applies to chosen end market. There is more to life than just non-profits and PR agencies (I served in both), but also corporate and government (I toiled here and there as well). Where is the compensation the greatest? The answer usually revolves around where the supply is the smallest; the demand and challenges are the greatest.

gender3

Almost DailyBrett wishes for a magic wand to wave away the last vestiges of ugly and flat-out wrong sexism and racism from global societies.

Absent supernatural powers, we can instead take positive mentoring steps to help close and eliminate the pay inequity between men and women in public relations. Today is a great day to start.

http://www.prsa.org/Intelligence/PRJournal/Documents/2013DozierShaShen.pdf

http://womeninbusiness.about.com/od/sexual-discrimination/a/Corporations-Sued-For-Gender-Discrimination-Against-Women-And-Men.htm

https://almostdailybrett.wordpress.com/2011/05/01/pr%E2%80%99s-endangered-species/

https://almostdailybrett.wordpress.com/2013/07/31/where-are-the-guys/

 

 

 

%d bloggers like this: