The Hidden Pay Gap: Unveiling the Reality for Women in Medicine and How to Fight Back

Equal Pay Day happens every year and it brings attention to the problem of pay disparities between men and women. It also serves as a reminder of how much work is needed to achieve pay equity.

A recent Forbes article stated "According to the World Economic Forum , the global gender pay gap is estimated to take well over 100 years to close. Women earned $0.82 for every dollar men made in 2022 , regardless of the job industry, type, or even years of experience. The pay gap is even wider for Latina women and women of color in the U.S. According to data from the National Women's Law Center , Latina women are paid just $0.57 for every dollar paid to white, non-Hispanic men and hold just 1% of jobs in the two highest-paying STEM fields (computing and engineering)."

In healthcare, women still face a 24% salary differential compared to men, and for women physicians that percentage is 26 equating to women physicians earning nearly $110,000 less than their male counterparts, even when controlling for specialty, location, and years of experience.

Despite the yearly focus on this disparity, not much has changed since the 2000s. The consequence of this disparity leaves women in a position where they may not be able to have the money to invest in professional development, so their chances of advancement become narrowed. They also are stuck at times having to make choices about their home or personal lives based on these lower wages. We are losing women physicians in the workforce, who often have the make the difficult decision to reduce their hours, leave medicine, or work longer hours only to face burnout at a faster rate.

Although organizations can and should implement strategies and practices to help ensure fairness in compensation, women must have a voice and become more savvy at negotiating and better prepared to have conversations about pay.

Here are 5 strategies women can take to level the playing field:

1. Know Your Worth: Research and understand the market rate for your role, experience, and region. Resources like professional associations, salary surveys, and networking with peers can provide information about what constitutes fair compensation.

2. Develop Negotiation Skills: Workshops, courses, and reading materials can equip you with strategies to effectively advocate for higher pay and better terms of employment. Hire someone to read your contracts to make sure you are being fairly compensated.

3. Brag on Yourself: Prepare a strong case when negotiating for higher pay or promotion. Make sure to keep track of and highlight your achievements, qualifications, and the value you bring to the organization. Be ready to present examples of your contributions and how they’ve positively impacted the organization.

4. Support and Mentorship: Engage with mentors, sponsors, and peers who can provide advice, support, and advocacy. They can offer valuable insights on navigating career advancement and negotiating compensation.

5. Advocacy: Get involved in professional organizations and committees that focus on equity and diversity in the workplace. Advocating for change not only helps address your pay disparity but also contributes to creating a fairer environment for all women in medicine.

Implementing these strategies requires commitment and effort from both organizations and individuals. By working together, it's possible to make significant progress toward closing the pay equity gap in the medical profession.

"Are you tired of feeling undervalued and underpaid compared to your male counterparts, despite having the same qualifications and experience?"

"Do you find yourself struggling to navigate the complexities of salary negotiations in the medical field?"

"What if you could confidently assert your worth and secure the pay equity you deserve as a woman physician?"

Let's claim your seat at the table, together. If you are looking to be empowered and armed with the tools to advance your career and navigate the transition to medical leadership, schedule a discovery call with me today at www.schedulewithdrlisa.com

With warmth and solidarity,

Dr. Lisa Herbert

P.S. Tune into the new, upcoming season of the "Women Physicians Lead" podcast for more empowering discussions and actionable advice. Let's make our voices heard!

Dr. Lisa Herbert is the Founder and CEO of Just The Right Balance LLC. Impacting the world through healthcare leadership is the journey for Dr. Herbert, whose mission is to help increase the number of diverse physicians in leadership roles by equipping them with the personal and professional development skills they need to succeed. A diverse leadership workforce creates the pipeline for future leaders and improves healthcare delivery to the communities they serve.

She has worked with over 20+ organizations and 500 healthcare professionals who were ready to take the steps to develop a healthcare workforce that will create lasting change. Together, I can help you get clear on a strategy to build, develop, and support physician leaders.