New research by Milkround has revealed that over a third of female graduates expect a starting salary of £20,000, falling £10,000 short of the median UK graduate wage of £30,000 per year.
This, coupled with The Department of Education’s Longitudinal Education Outcomes findings, shows that the gender gap exists from the beginning of graduate careers, and even increases over time. In fact, five years into their careers, women earn on average £6,500 less than their male counterparts.*
We believe it is pivotal that graduate employers are dedicated to doing their utmost to tackle this.
Milkround’s Head of Marketing, Francesca Parkinson, highlights that: “Nearly 85 per cent of female graduates do not know their own value, which may have a knock-on effect in their future earnings. As the UK’s largest graduate advice website, we feel a responsibility to empower women in the workplace, helping them to realise their worth and build career confidence”.
As graduate employers, there is much you can do to ensure female graduates know their own value and possess the confidence to articulate this. By seeing that their employers accurately recognise their value and actively work to erase the gender pay gap, graduates will feel confident that they will receive the salaries they deserve.
Raising awareness of the gender pay gap and its implications as a matter of social responsibility is, of course, a priority. However, only through conscious action that aligns with values of equality can we implement change.
The application process
As a graduate employer, you will know that many job openings will offer ‘competitive’ salaries. You may offer them yourself. Most graduates will embark on their own research as to what range ‘competitive’ consists of for a specific role or sector, but will sometimes set their salary expectations a little lower than the average in a bid to make themselves appear more desirable.
As highlighted by Milkround’s research, this is incredibly detrimental to women, who already face issues of inequality in the workplace. By being clearer about what sort of salary you will be able to offer, you ensure graduates have realistic expectations and are not undercutting themselves from the beginning when it comes to salary expectations.
Be open to salary negotiations
As you would expect, it is unlikely a new graduate will have negotiated salary previously. It is important to remember this if a graduate with a job offer does not navigate the conversation in quite the same way you may be used to. Of course, this does not mean that it is acceptable for them to raise the point without politeness, accurate research, and proof of their exceptional skills. Simply put, female graduates should feel they can confidently talk about salary.
As an employer, it is key to establish a good relationship and appear approachable to your potential employee so that they can feel confident raising questions not only about the role itself, but about their salary expectations. Often, graduates will give a range for their salary expectations (for example, “somewhere between £23,000 and £25,000”) because they might assume by specifying only one figure, an employer will consider them too demanding. This fear of asking “too much too soon” contributes to the continued existence of the pay gap, and is commonly attributed to women more than men.
Be constructive and offer feedback and recognition
If a recent graduate asks for a raise following an acceptable period of time in your employment, or their salary expectations are higher than you anticipated prior to accepting a job offer, acknowledge that you understand the points they have voiced. Hearing that a raise is not possible will be disheartening, but if employers make it clear that an employee’s request has been thoroughly considered, the response should be accepted and taken onboard. If you can, use data to reiterate your pay package is on par with the average.
Milkround continually see highly qualified and enthusiastic candidates; our recent Society Awards was host to a number of female students with incredible talent. As a result, it is alarming that young women not only have the glass ceiling to contend with, but also a ‘lead floor’. Without active employer influence, female graduates will remain wedged between the two.
We must continue to raise graduate confidence so they understand their own value and can articulate this. Far from feeling entitled, graduates need to know that even at entry level, they will be respected and listened to during salary negotiations. Maintaining self-worth, especially in female graduates, ultimately forms a self-aware workforce where individuals know their own value. Graduate employees should be able to trust that this is recognised by their employers, who are not only aware of the existence of the gender pay gap, but actively counteract it throughout the recruitment process.
If you’d like to learn more about our research into graduate salary expectations and the gender gap and the graduate market generally, download our whitepaper.
To speak to us about job postings or creating a tailor-made campaign, don’t hesitate to give us a call on 0333 0145 111, or drop us an email at email@example.com. We pride ourselves on our graduate knowledge, because it comes directly from our audience!