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Women, Can You Love Your Job But Still Be Pissed About Your Compensation?

Posted on by Jason Bramwell

If there was such a thing as a “I love my job” gap, men and women would be equals, according to the latest U.S. salary survey from the Institute of Management Accountants. And that boggles my mind because, as we all know, women’s salaries in accounting are definitely not equal to men’s.

So as a woman, can you love your job even though you’re not paid as much as the dude in the office next to yours who has the exact same job title?

I decided to ask the woman with whom I share a home office (i.e., bedroom) for her opinion. She works in the banking industry, which like accounting is historically (and currently) dominated by old white guys. As a woman professional, she believes loving what you do for a living has nothing to do with having a compensation package that is competitive with her male colleagues.

“I still believe you can love what you do but still be disappointed that you’re not compensated appropriately. One has nothing to do with the other,” my wife told me. “Your passion for what you do is controlled by you. To an extent, your salary is not. It’s set by the company. Can you go out and find a new job that pays more? Maybe. But the fact is men make more money than women. Can you go out and demonstrate by burning your bra? Sure. But it won’t change that fact. Women have made so many advancements for rights but not when it comes to compensation to our male counterparts.”

So basically my wife agrees with the IMA’s findings on job characteristics and satisfaction by gender:

There are many factors that contribute to job satisfaction, including salary and other benefits. When asked if their salary was competitive compared to their peers, 66% of CMA respondents agreed, compared to 56% for non-CMAs. The percentage is also higher for men (68%) vs. women (57%). Seventy-three percent of all respondents said they love their jobs, and this is the same regardless of gender or certification. This shows there are other factors contributing toward job satisfaction in addition to compensation.

How bad is the salary gap between men and women among the IMA’s membership? Overall, women earn 86% of men’s median total base salary and 84% of men’s total compensation.

“I’m not surprised,” my wife said. And you shouldn’t be either.

Here are a couple of charts that provide a salary breakdown by gender in regards to age range and management level:

So women accountants, is my wife nuts or do you agree with what she said?

Related article:

Certifications = Higher Salaries, Natch

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How Accountants Can Get the Salary They Want

I’ve always been a nerd.

Not a dork, a nerd. The financial services industry and its incredible economic influence (from tax structuring to secondary industries like cab drivers and event planners) has always interested me. So it should come as no surprise that I am an avid reader of the Wall Street Journal (I have the dual paper/online subscription…obviously).

There was an article in today’s edition that has to do with getting “the salary you want.” If only it was as easy as these five points. For what it’s worth, here’s my summary of, and input on, how these rules suggested guidelines if you are looking to transition out of public accounting:


• Do your research – The article makes a point to research what current salary ranges at the potential place of employment could be. Salary.com, Payscale.com, and Glassdoor.com are all mentioned. My advice – remember to do your research with grains of salt in easy reach. The greater number of employees that contribute their statistics will lead to a more accurate number. (Glassdoor.com lists PwC’s “audit associate” salary average salary as $53,358. Is that accurate? You tell me.)

• Don’t give out the first number – When you get beyond the confusion of that statement, you realize the article is referring to the pay day you would love to receive if given the job. My advice – Don’t give a number. Here’s exactly what you need to say if asked “what is your ideal salary:” “For me the role and opportunity is what is most important.”

Yes, that is a vague statement. But it is your recruiter’s job to fight for your salary; remember their pay day is dependent on yours.

• Don’t lie – Listen to your mother. My advice – this is self-explanatory. Your current salary will be verified. Lying to your recruiter about anything – most notably salary and background check details – is a way to sever ties indefinitely.

• Don’t take the first offer – The article goes back and forth about negotiating salaries, something that you won’t do if you use a recruiter. However, if you are not using a recruiter, I recommend reading this bit. My advice – People typically have two magic numbers in their head: 1) the salary they’ve dreamt of and 2) the number they really need to receive in order to commit to leaving. Be honest with your recruiter. They will fight for you, or they will talk you off the ledge of asinine expectations.

• Once that’s locked in, go for other benefits – The article pretty much shoots itself in the kidney on this one. Read it. It’s 17 seconds you’ll never have back. My advice – consider the benefits part of your total compensation. More or less vacation days? Summer flex programs? Cheaper health benefits? Better 401k? List everything out and compare with your current situation. Due to fair employment practices, companies are usually hand-tied to offering equal employees different (or “better”) benefits.

That’s all I have. Oh and for the record, the difference between dorks and nerds is simple. Dorks read the Journal with coffee. Nerds read the Journal with scotch.

Comp Watch ’11: Rumors of Imminent Exodus at Ernst & Young Has Some Perplexed

This just in:

I have been talking to a variety of people at E&Y from several offices in Ohio and Michigan. The word from them is that there is going to be a significant movement of people once compensation info is passed out. It’s kinda conflicting since the rumor is that raises should be around what they were last year. Not sure what to make about it.

As you recall, last year’s raises and bonuses at Ernst & Young were competitive with PwC, which came as a pleasant surprise to everyone at Black and Yellow but understandably this rumor has our tipster in a flummox. Of course, this could be limited to the Ohio/Michigan area but it’s worth seeing what the Turley’s Troops in other areas are hearing. Share below.