You've probably heard of the gender pay gap - the fact that, according to the most recent Census Bureau data from 2018, women of all races earned, on average, just 82 cents for every $1 earned by men of all races. Last week, Equal Pay Day was recognized on March 7 - this is the number of days into 2022 women would need to work to earn the equivalent of men in 2021.
Do you know how the gender pay gap may impact your earnings over the course of your career? Do you know that the gap is a LOT bigger for women of color? In fact, the wage gap for women in some racial minority groups is not only wider than the overall gender wage gap, but it is also closing more slowly.
While MUCH needs to change on a cultural level to truly close these gaps, there ARE ways you can increase your negotiating power and confidence to chip away at it for yourself.
Today on the podcast is Lora Rosenblum, advisor to and champion of 81cents, a paid service that helps women negotiate higher compensation by convening a group of experts to advise on their compensation and make an action plan for negotiation. Lora discusses the wage gap, what can be helpful when prepping for a compensation discussion, and how 81cents is fighting the racialized wage gap via 81grants - providing its service for free to people of color and other underrepresented minorities who experience wage gaps.
LINKS:
- Transcript of episode ((AI-generated so she ain't perfect)
- 81grants scholarships for people of color
- Quick Facts about the Gender Wage Gap (Center for American Progress)
- Gender pay gap in U.S. held steady in 2020 (Pew Research)
- Women of Color and the Wage Gap (Center for American Progress)
- Wage Gaps by Race (Investopedia)
- Race and the Pay Gap (AAUW)