What do you need to know about the pay gap, and how can you ensure you’re communicating and affirming your worth?
Trish Gordon, Vice President of Program Management with JLL, shared some hard-hitting facts, such as:
- There are 23.3% fewer women than men in commercial real estate.
- Women in commercial real estate are paid 30% less than men in commercial real estate.
From the residential and industry perspective, Dr. Jessica Lautz with NAR shared the following:
- In the 1970s, the majority of REALTORS® were men. Today, the industry is dominated by women.
- Women are outperforming men when it comes to the number of transactions they close each year, but they have a lower sales volume.
So, what’s being done to correct these disparities?
Dana O’Leary, the Chief of Staff for the Illinois Department of Labor, discusses the Equal Pay Act, which was amended last year. These amendments make it a requirement for organizations to provide data about pay range and job titles to the government. This ensures everyone will be getting paid equally, regardless of race and gender.
Sylvia Seabolt, the President of the Women’s Council of REALTORS®, encourages REALTORS® to get involved by networking and holding intentional, transparent conversations. The connections you make by getting involved can be used to ask others about pay, balancing work and life and so much more.