While it can be a challenge regardless of your gender, fewer women go into contracting full time (just under 25% according to recent Irish research). According to the Local Enterprise Office, approximately 1,000 women in Ireland establish a business each month. This is encouraging and organisations have responded in kind with numerous supports available across the country. Think Business listed some resources in an article here
The gender pay gap has been given column inches over the years but those inches are still very evident in the market even now. It is encouraging to see that the pay gap is not as wide in contracting. According to independent Irish research on contracting, things improve for women in the contracting space.
There is greater equality of pay between men and women in the high skilled independent contractor workforce than amongst employees. The average annual earnings gender pay gap is 15% within the professional contractor workforce, compared to the 25% gender pay gap in the employed sector.
There is still some distance to go but it helps to talk to more experienced colleagues and contractors about their rates – and being open about yours.
Jimmy Sheehan, managing director of Contracting PLUS always followed one piece of advice he was given:
Never discount my price unless you take something away. If you are charging €500 for your service and agree to do it for 10% less, you’ve lost the customer before they get home. As that customer is driving away they’ll initially be happy with their 10% off, then they’ll start questioning if they should have asked for 20% off.
In fact, Jimmy didn’t just refuse to discount his fees, he raised them when a competitor tried to undercut his prices. As Jimmy pointed out, “I increased my price by 25% and started focusing on the benefits to the users in my advertising. I emphasised my services would put more money in their pocket, and I ran business-growth clinics, which were all-inclusive in my fees”.
Well…..in 2015 he managed to sell that business and focus on his priority at the time – his family. So you decide. You can read the full interview on the Independent.ie website here.
If you are interested in joining the hundreds of female contractors, but you’re not sure where to start, talk to us. We have been supporting contractors for over 20 years, ensuring you maximise the money you make, letting you focus on what you do best! Schedule a call with our team at a time and date that suits you.
We hope you’ll join our community of female contractors Women in Contracting LinkedIn Group here*. We hope you will find it helpful.
*This is a community for women or people who identify as female. Please note, where we reference women or females, we include people who identify as female.
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