Norgay Press Release Featuring : Mary Gay Townsend
"More women are becoming confident in advocating for themselves when it comes to compensation within the private equity industry."
Mary Gay Townsend, Founder and Managing Partner
Taking to the stage in a panel discussion, “The Elephant in the Room: Addressing Compensation in a PE Firm”
Townsend noted that more women are becoming confident in advocating for themselves when it comes to compensation within the private equity industry. When negotiating compensation, she highlighted the need for PE firms and candidates to address the core ‘C’s, as best practices:
- cash, carry, clarity, communication, consistency, and culture
These elements are essential in making sure there is alignment between both parties.
With ESG at the forefront for many companies, engagement with diversity and inclusion (D&I) is no longer merely a trend but is a measurable action and is now expected of companies. Norgay is proud that 49% of its searches have been completed with diversity hires, including women. Townsend is also encouraged to have observed that more and more women are asserting their compensation desires regarding bonuses and carry during the recruitment process. She added a note of caution, however, that too many demands have the potential to hinder negotiations.
Townsend’s two decades in the industry give her a bird’s eye view on the important changes surrounding compensation, namely that more people are openly discussing their expectations and broaching the topic, making the conversation more accessible and transparent for both recruiter and candidate.
The Norgay founder observed that now more than ever before, people are talking about money both internally and externally. If a firm is not consistent in its compensation structure, they risk losing talent.
Published: December 1, 2022