Personal Finance

Women Take a Greater Hit on Salary After Getting Fired Than Men, Data Shows

Woman with sad expression carrying cardboard box of office supplies

Getting fired from a job can be a devastating blow to not just your finances and self-esteem but your career on a whole. But new data shows that the aftermath of getting fired tends to be harsher for women than for men. Despite the fact that men are statistically more likely to get terminated for poor performance than women, they tend to come out much better financially. In fact, while women see an average 24% decrease in salary after being fired, men, surprisingly, see an average 1.3% increase . Talk about a great divide.

Don't let that termination bring you down

It's never easy to be fired regardless of gender, but women tend to take the news a bit harder than men. Not only are females who get terminated more likely than males to experience negative emotions, but more than 40% feel ashamed after getting fired. Men, by contrast, are more than twice as likely to experience joy after being fired, and are nearly twice as likely to feel excited -- presumably about the new opportunities that might be available to them.

Woman with sad expression carrying cardboard box of office supplies


If you've recently lost your job, your attitude about it could play a huge role in dictating your next salary, so proceed with your search carefully. First, give yourself a little time to grieve after being terminated. It's perfectly acceptable to need a few days or even weeks to gather your thoughts before you dive into a full-fledged job hunt.

Next, prepare to be open about what happened during interviews. Lying about what transpired at your previous job is a mistake that could cost you an otherwise solid offer , so lay out the facts clearly but succinctly. There's no need to go into details about what happened unless your interviewer presses for more information. At the same time, resist the urge to bash your former employer, even if you think your firing was unjust. All that will do is make you look unprofessional and, frankly, emotional, which could hurt your chances of getting rehired.

Furthermore, make sure to go into each interview you attend knowing exactly what you're worth. Do some research to see what the average person with your job title in your area earns, and land on a number that not only reflects that data but the specific skills you bring to the table. This way, you'll be less inclined to accept a lowball offer and take a major salary cut in the process.

Finally, have confidence in yourself, and recognize that getting fired doesn't define the type of person you are. Sometimes, in the course of a job, expectations get mismanaged and mistakes get made. Rather than let your termination hold you back, use it as an opportunity to get out there and find something better. At the same time, don't feel compelled to take the first offer you receive, especially if the salary doesn't add up. The last thing you want to do is resign yourself to a pay cut and expand the ever-present wage gap that's already plaguing the workforce today.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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