5th Annual State of Women in Revenue Report: The Paradox of Successful but Unequal

Women in Revenue conducts an annual report on the challenges facing women in business today. For 2023 we’ve identified improvements that employers can make to improve on a “successful but not equal” system.  

In our report, “Bridging the Salary Gap: The Paradox of Successful but Unequal,” three key themes emerged: (1) compensation challenges, (2) a demand for workplace flexibility, and (3) the need for mentorship. These challenges have led to dissatisfaction for many women. Nearly half of respondents in this year’s survey said they considered quitting their job in 2022, and 20 percent actually did. That translates into a big price tag for companies who now have to hire in a competitive job market. 

Pay Inequality

Compensation challenges among this group of successful women with seemingly well-paying careers shows a lack of progress. More than 25% said they made less than their male counterparts, and even more alarmingly, 52% said they had no idea! Pay transparency laws have been enacted across the country to address this issue, but they clearly have a long way to go.

Flexibility is Queen

Workplace flexibility was ranked the number one benefit by a landslide. More than 80 percent of women named working from home as the must-have perk in job offers, and it’s easy to see why. This is a group of high-functioning multitaskers who have emerged from a pandemic with a keen ability to thrive in a modern, flexible workplace. 

This group values this benefit most when considering a job offer or whether to stay at their current job. And the number is up 30 percent from previous years. The number two ranked benefit? Flexible work hours. 

Need for Mentorship

Along with the desire for a flexible workplace, women also cited the need for mentorship as a key challenge that can be exacerbated by the more virtual nature of work from home settings. Nearly 30 percent of women reported lack of training/coaching, lack of mentorship, and equal seat at the table as challenges in their organizations. 

Employers need to take these gaps seriously as they can be nearly insurmountable blockers in harassment situations. 

We love supporting our community with the same statistical and fact-based reasoning that makes us all successful sales and marketing leaders. Identifying the top career blockers and most valued workplace benefits is the type of knowledge that companies need to build strong, productive teams.  

Checkout the full report HERE!

Introducing the Women in Revenue Career Progression Support Center

Women in Revenue’s roots come from the B2B tech industry. That means that our community has been hit hard in recent months by layoffs and change. When turmoil hits our ranks, we gather our resources to help. Today we’re launching the Career Progression Support Center, a place for our members to go to get advice on imminent career transition. 

Whether you’ve been laid off, are considering a new career or job, or find yourself navigating a new work environment post layoffs, this center has resources to help you plan and cope. We spend one-third of our life working. Managing and planning for what comes next is important for your financial future, overall career success, and your mental health. We hope this page helps. 

The Career Progression Support Center is a living site that will be updated regularly with resources to help with career transition and progression. It includes helpful resources from experts around the web including articles, blogs, videos, podcasts, infographics, webinars, and more.

To give you a sample of what you can find in the center, here are a few highlights and tips from the resources we’ve gathered:

  1. Don’t forget your worth. As this Harvard Business Review article says, “Being laid off is not a reflection of your skill set — it’s a reflection of your former company’s lack of proper planning during a turbulent economy or of its change in business strategy.”
  2. Yes, tech companies are still hiring. This community-generated, free list of jobs in tech currently lists more than 1300 tech companies that are hiring
  3. Not laid off yet, but worried you might be? This Resource Center includes a number of resources with advice on what to do when you’re laid off, including a layoff playbook which includes insight on how to handle the rumors, the actual layoff meeting, and steps on what to do after. For example:
    • Before: Gather documentation and information (such as employment agreements, contracts, contacts, and examples of your work). DO NOT take proprietary information.
    • During: Know that you can negotiate your severance. Understand what to expect and how to negotiate.
    • Immediately after a layoff: Hydrate. Sleep. Process. 
    • After: Compute your runway–How long do until you have to work. Apply for unemployment. Set up health insurance.
  4. Take care of your mental health. Pandemic followed by career transition is a lot. The resource center includes a pair of podcasts from Brene Brown and Melissa Froehlich on how to handle the exhaustion and how to shift your success mindset, respectively.
  5. Ask a mentor for help. Mentorship doesn’t have to be a lifetime commitment. As Women in Revenue board member Jill Melchionda discusses in a WIR TV episode on the resource page, you can even have “spot mentorships…where people get matched on a particular challenge or topic.” 

Check out the resource center and if you need help with any of the steps, help is available in a flash! Taking a page from that last highlight, Women in Revenue’s Flash Mentorship Program allows you to set up a one-time call with a qualified mentor to discuss a specific skill and/or topic, for example, how to beef up your resume, how to set up an informational interview, or how to leverage your network to find or get the inside scoop on job opportunities. Sign up here and be sure to select the “Mentorship” box to get started.

WIR TV January 2023: Mentorship

Many professionals across a range of industries consider mentoring a critical part of their career success. Yet, studies have shown that historically, a surprisingly small amount of women have taken advantage of the many benefits of mentorship. 

Fortunately, we’re seeing that change — especially after the challenges and changes that have happened across the globe over the last few years.

Those interested in seeking out the guidance of a mentor may still be wondering how to approach someone about it. Others may not realize they themselves can become mentors — and this relationship can be beneficial to their own success.

Check out our WIR TV episode, “Why Mentorship Is Critical to Success,” as we hear from  Nicola Cronin, Head of Engagement at Guider AI; Lisa Ames, CMO at Norwest Venture Partners; Lisa HoLung, Media Director at April Six and Jill Melchionda, WIR Board Member, on the many advantages of mentorships. 

Their conversation covers:

  • How mentorship is more than just offering advice and having conversations about your life experiences.
  • Why being a mentor empowers others to discover their strengths, work with their weaknesses, and set new goals!
  • How mentorship can equip mentees with the tools and confidence needed to advocate for themselves at work. 
  • What it takes to be a mentor and the importance of “reverse mentoring”.

Watch the full recording here!

The Power of Community

If there is one thing the COVID-19 pandemic showed the world, it’s that while solitude may be enjoyable — and sometimes even necessary — we still need to connect with others. And it’s about a lot more than simply having people to interact with. 

Having a good community means being around like-minded individuals who get you. A place where you can bring your genuine self to the table. No need to scale back for fear of being labeled as too much, or too loud, or too outspoken. The point is to feel free to be yourself. While this may sound a bit idealistic, once you find it, it’s pretty empowering. How so? Let’s count the ways. 

Benefits of Being Part of a Community 

There are several reasons why being a part of a community is beneficial. While individual needs may vary, there are some common denominators across the board:

  1. Sense of Belonging
    Feeling like you belong within a group of people is essential for good mental health. This is because having a support network can help you feel motivated when things are going well, and less alone when undergoing difficult times. As a result, you feel connected and are better able to manage stress. 
  1. Mentorship
    While some individuals may seem like they’re infinite sources of wisdom, the truth is that everything they’ve learned has been a product of their life experiences — including their relationships with others. These experiences make them invaluable resources for advice, constructive criticism, and sharing of knowledge; all of which is crucial to help them — and you — grow as individuals and as professionals. 
  1. Support
    There are many ways to support one another. This can be done through encouragement to pursue a goal, guidance as we go through new experiences, and maybe even financial — especially at a time of sudden layoffs. As much as we all strive to be  independent and self-sufficient, life comes with many surprises. Having a reliable support system is essential to navigate them successfully. For example, you could connect people on LinkedIn to help someone find a new job, or be part of a group that pitches in to assist a friend facing a hardship. Members of a community can also serve as each other’s allies, whether they hear of an opportunity, or to link arms in the quest for social justice. 
  1. Access to Resources
    One of the biggest benefits of having a community is that everyone is good at something. Let’s say you all work in tech. Someone may be well-versed on database management, while someone else’s strong suit may be network security. When people work together, all bases are covered, and everyone benefits. 
  1. Professional Growth
    Having a professional network also helps you extend your reach for your business, as you refer contacts and business to each other. And since these referrals are done by people who know you, the likelihood of prospects being a good fit is greater. At the end of the day, word of mouth is one of the most effective forms of marketing.

How To Find a Community That’s Right For You 

While all of these benefits sound ideal, you may be stumped as to how to find the right group of people. It seems simple to look for, say, people within your industry, but it’s imperative to dig deeper. What are non-negotiables for you? Some factors to consider include: 

  • Integrity
  • True authentic commitment to diversity, equity, and inclusion
  • Experience with innovation 
  • Giving back to the community
  • Leadership
  • Accountability 

The next step is to narrow down your options by exploring your interests. Are you looking to forge a community around one of your hobbies? Find people with whom you can discuss work woes and accomplishments? If it’s the former, look for groups with common interests, such as running groups or book clubs. If it’s the latter, opt for networking events — whether it’s ones created to amplify women’s voices, offer mentorship, and/or foster diversity. 

At Women in Revenue, we recognize the value and power of community, and we proudly support women in revenue-generating roles. Read about what we offer, and browse through our resources and events. You may just have found the kinship you’ve been looking for.

[Dreamforce Panel] A Dynamic Duo of Two Ships: Mentorship & Allyship

During Dreamforce 2022, Women in Revenue joined forces with Demandbase for a fun and enlightening evening event at the San Francisco Museum of Modern Art. Hundreds of people converged on this iconic location to meet with like-minded revenue leaders and delight in contemporary art galleries, craft cocktails and insightful conversations.

In addition to the networking, Women in Revenue pulled together a panel session with top executives and allies to discuss the importance of mentorship and allyship to power forward with a stronger sense of confidence and support…

A Dynamic Due of Two Ships: Mentorship and Allyship

Whether you think the glass ceiling is broken or not, one thing remains certain – women supporting women and allies supporting women makes all the difference to our individual and collective success. In a world where the right relationships can determine your access, inclusion, belonging and promotion the “ships” of Mentorship and Allyship are the vessels that will carry you over the life of your career and are even more vital for women and other underrepresented groups.

The person in your ear and corner along with the power of an ally in the room using their power for you when you aren’t even present is key to every woman navigating the ladder! Just knowing she’s not alone as she works her way up is rocket fuel for forward momentum.

Hear from from WIR’s Executive Director, Deanna Ransom as well as Lydia Flocchini – CMO @ SurePoint Technologies, James Gilbert – CMO @ Flip, Deb Rapson – SVP of Sales @ Leadspace, and Edward Avila – Vice President, Talent Acquisition @ Alation as they discuss:

  • Understanding and unlocking the power of a mentor 
  • The role and responsibilities of an ally
  • The difference between a sponsor and an ally
  • Why the right mentor and ally really matter
  • How mentorship and allyship work together for greater success
  • Top insights for recognizing and selecting the right mentor and ally

Here’s a link to watch a video of the panel.
Here’s a link to see the storyboard of the session that was created live onsite

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Check out our 5th annual State of Women in Revenue Report!
Bridging the Salary Gap: The Paradox of Successful but Unequal (June 2023)