CAREERS
HAILEY THIEL | BLDG MANAGEMENT
Bridging the Wage Gap
In the years since 1963 , when JFK signed the Equal Pay Act , the education and experience gap for women has been steadily closing . More women are educated and entering -- and staying in -- the work force . But for all of our progress , the pay gap has not changed much in the last 10 years . According to CNN Money , males out-earn their female counterparts by 22 % on average .
When I find myself asking why this gap still exists ( and that the percentage difference is so staggering ) I am reminded that , as a whole , women tend to be less aggressive in their career choices , in negotiating salaries and in asking for a raise . Are women hard-wired to seek out positions that are somehow less weighty than those that are “ typically ” male and usually pay more ? According to the Center for American Progress ,“ One of the largest driving factors of the gender wage gap is the fact that men and women , on average , work in different industries and occupations ”. ( Glynn , 2014 )
The company in which I began my career in commercial real estate is dominated by men who buy , sell , build and lease buildings . What I found interesting , however , is that those same men generally hire women to manage those buildings .
I realize it is taboo to say such things , but because I too have followed “ the safer path ” throughout my career , I am able to speak from experience . The High Risk / High Reward model was way outside of my comfort zone , but I knew in order to get to the next level I needed to take a risk . When I finally did , I was relieved to find a soft landing at BLDG Management where I have had the unique opportunity to develop our Business Services division . This division of BLDG was designed to operate as a resource center to our employees and includes our Human Resources department . My mission , when joining this company , was to make a real difference for our people , this industry and our community .
Fortunately , I took this leap of faith at the right moment and have been a part of explosive industry growth . I have found that many professionals , due in large part to the market growth , are migrating to property management . “ The office sector was the most popular among applicants in 2014 , 13.7 % of all applications . Multifamily jobs came in second with 11.8 %. Lagging behind in popularity , retail ( 6.6 %), industrial ( 4.3 %), and single family openings were nevertheless toward the top of the charts in terms of applications received .” ( The Job Barometer , 2014 )
As a result of this tremendous growth , I ’ ve hired a lot of amazing people , men and women alike . As I ’ m sure many of my peers would attest , men and women gravitate to certain positions . Women lean toward leasing , housekeeping and administrative openings , while men seek out maintenance , groundskeeping , and accounting positions .
With that said , I believe women have found property management to be a platform for professional and financial success and an industry where they can wear their leadership hats proudly . They can marry their business mind with their nurturing nature – a trait which is essential to great customer service -- in order to achieve truly great things .
Property management , unlike commercial brokerage , has long been a female-dominated industry and as such , I believe industry leaders have a responsibility to take the next step in supporting these earners by offering greater benefits that will keep them engaged in the work force longer and support a work / life balance that will keep them focused on growth and the long-term opportunities available to them .
In recent years , there has been a huge push to engage employees at all levels across all industries . Google and Amazon have done this by offering
more robust benefit packages which include extended leaves of absence . Recognizing the value women bring to the workplace is fundamental in taking the necessary steps to retaining their talent .
For my company , this means a paid parental leave program , flexibility and promotion from within . We also seek to develop our talent through a number of internal and external education programs and have had tremendous success with these initiatives to create opportunity for our employees .
Along the way , we have found that these programs foster loyalty , sound decision making and ultimately increase the performance of our properties . I am excited to be seated at a table where the leadership is balanced between men and women and where bold ideas are embraced and encouraged . This is a step in the right direction for women in real estate and I am honored to play a part in narrowing this wage gap for women . I am encouraged that there is so much attention being given to this subject and I know many more women will find property management as an avenue for achieving financial success and a seat at the table . www . aamdhq . org AUGUST 2016 • TRENDS | 25