Value the Worker, Value Pay Parity
Like many of you, I worked throughout my college years. While my parents supported me as much as they could, it was really incumbent upon me to fund my college “activities.” I worked at Alleghany Sub Shop in Alleghany, NY. The little sub shop was a hub of activity on any given day, and we worked hard to keep subs moving. I recall late Saturday nights when we closed at midnight or 1 a.m., Barb (the manager) and I scrubbed the floor, cleaned up the day’s work and ensured all appliances were off.
For a college kid, Saturday nights were sacred “go out” times. I didn’t mind working the occasional Saturday because this job funded all of my spring break trips—The Bahamas and Fort Lauderdale (twice! What was I thinking?!). It funded many wing nights (Buffalo, NY wings are the best!) and 3 a.m. breakfasts at Perkins. My earnings gave me power. The power to participate and the power to choose. My hard work gave me financial freedom and I appreciated the value of every dollar I earned.
When I see the world today through my professional work and life, I see hard working women earning only a portion of what men in comparable positions earn. With Sept. 18 designated as International Equal Pay Day, it makes me reflect on my early earning days. While I am grateful for my early start in work ethic and valuing a paycheck, I am disappointed that women are still making less than men for comparable positions. Here are some key stats to consider:
Across all regions, women are paid less than men, with the gender pay gap estimated at around 20% globally. (Women earn 80% of what men do globally) At current rates, it will take 70 years to close this gap.
Women are concentrated in lower-paid, lower-skill work with greater job insecurity and under-represented in decision-making roles and fields such as science and technology.
Globally, nearly 65% of people above retirement age without any regular pension are women. This means that 200 million women in old age live without any regular income from social protection, compared to 115 million men.
Consider this a call to action for our male allies to commit to pay parity and investing in women in commercial real estate. This day represents a wake-up call and opportunity for leaders to take action in the following ways:
Sign CREW Network's CRE Pledge for Action, which includes a call for pay parity.
Conduct a pay equity assessment and determine if there is a pay gap in your company, and how you can close it.
Invest in women’s leadership development to ensure that you move into the future with skilled, talented women in executive leadership positions who are paid equal to their male counterparts.
Next year, let’s aim to celebrate a world where Equal Pay Day is no longer necessary. Show your commitment to pay parity and equal opportunity by valuing every worker's contribution. Together, we can turn this goal into a reality. Let’s make it happen!
