women and money

There are numerous reasons why women make 78 cents on the dollar compared to men. One of them is they do not ask for raises as often. According to NPR, men are four times more likely than women to ask for a salary raise.

This reluctance has a snowball effect. One small pay boost means bigger annual raises, bigger bonuses, and a larger salary being carried over to the next employer.

"I tell my graduate students that by not negotiating their job at the beginning of their career, they're leaving anywhere between $1 million and $1.5 million on the table in lost earnings over their lifetime," economist Linda Babcock of Carnegie Mellon University says.

Babcock also says that women can find negotiating their salary intimidating.

"They wait to be offered a salary increase," she says. "They wait to be offered a promotion. They wait to be assigned the task or team or job that they want. And those things typically don't happen very often."

The World Economic Forum says that women are reluctant to ask for a raise because due to a "quirk of biology and culture" they are prone to undervalue themselves. But when they do understand their value they are judged as bossy or difficult.

Cindy Gallop, who refers to herself as "a brand and business innovator, consultant, coach and keynote speaker," has worked with everyone from Levi's to Nike, and has some great advice for women who want to get the highest salary possible.

Gallop's advice inspired people to chime in and share how they got what they deserved while negotiating a salary.

In the end, it's all about getting what you're worth and not being afraid to ask for it. Gallop's advice is great because if women are undervaluing themselves, throwing out an audacious number to a potential employer might be right on the money.