LOS ANGELES, CA / ACCESSWIRE / October 7, 2018 / In 2018, the issue of the gender pay gap has been making headlines around the world after female members of the media, entertainment, and sporting industries all reported being paid less than their male counterparts. A recent study by the commercial real estate staffing and recruitment specialists, RETS Associates, has shown the gender pay gap appears to be alive and well in the real estate industry. According to a recent study, 90 percent of women in commercial real-estate say equal pay is their largest obstacle.
The study found was based on a survey of 618 female commercial real estate professionals from entry level to senior management positions. Among the shocking findings of the study is the fact 87.2 percent of those taking part believed securing equal pay is the most important issue being faced in 2018. The real estate sector was once seen as an "old boys club", with the commercial industry looking to change its image despite the fact female professionals are reporting gender inequality as a major problem.
In the study by RETS Associates, female respondents reported they were made aware they were being paid less than their male colleagues at a rate of 65 percent. Shockingly, 75 percent of those who reported being paid less than their male colleagues stated this had happened on two or more occasions throughout their career to date.
The study also looked to explore the major concerns of female commercial real estate professionals in the "#MeToo" era with gender a major issue for the majority. Among the problems, female professionals believe they face include a lack of opportunity to advance their careers through promotion concerned 79.2 percent of those taking part. Almost as much of a concern at 79.1 percent was the feeling most women in the industry had of being undervalued when compared to their male colleagues.
Feeling undervalued or sensing they were being passed over was another common concern with 61 percent of female commercial real estate professionals feeling they had been passed over for a role or listing at some point in their career. From this 61 percent, around 82 percent of women reporting being passed over for a role explained they had been passed over on more than one occasion in their career to date.
Perhaps the most demoralizing aspect of the study came in the response to questions about taking action when the gender pay gap or being passed over for a role was an issue. Two-thirds of female real estate professionals explained they had not reported events to their superiors for fear of further damaging their career. Among the reasons cited for not reporting events was a feeling of future reprisals from company leaders or the fear of their reputation being tarnished in the future. Only 28 percent of female real estate professionals reported their concerns to their superiors or the Human Resources Department. Others who felt their gender had been a reason for their lack of career opportunities simply resigned from their position or looked for different employment.
Jessica Zalban
SOURCE: NMS Properties, Inc.
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