June 20, 2023
The Gender Wage Gap and What to Do About It (Part 1 of 2)
The gender wage gap has always been a thing, but we want to know if it's getting smaller and what (if anything) is being done to close it? Will it be enough? What can companies do to help close this gap and what are some things you (as an employee) can also do? Tune in to today's podcast where co-hosts Mary Beth Storjohann, CFP® and Neela Hummel, CFP® discuss these questions and more. You'll hear about statistics behind the gender wage gap, and how and why it's still around.
For additional resources, information, and a full transcript of the episode, visit our website.
What You'll Learn in this Episode:- What the gender wage gap is and its financial impact on women
- Thoughts on where the gender pay gap came from
- How things looked for women before the Equal Pay Act
- The systemic barriers that have been in place for decades
- Unconscious bias impact on the gender wage gap
- How long it will take for gender earnings to be equal based on current trends
- What role the pandemic has played and its negative impact on closing the wage gap
- The reason more women than men left the workforce to stay at home during the pandemic
- What can be done to change the systemic issue of the gender wage gap
- How to identify the income of your peers to see if you're getting paid a fair wage
- What to do when you recognize you've reached a dead end with your job
- Why you should apply for a job, even if you don't meet all the qualifications
- The benefits of closing the gender wage gap
- Why the financial industry needs a more diverse group of people when it comes to managing and investing money
- What people you need in the room when trying to change your organization
- Work benefits to fight for and how to optimize those benefits from your employer
- Boundaries placed on workers that might deter them from stepping out of the workforce
- A dramatically underpaid industry that should be paid more
- The one big takeaway from this episode
- How the Pandemic Slashed Years of Women's Workforce Progress
- Women in the Workplace 2022 article by McKinsey & Company
- The Gender Pay Gap Shrank in 2020, But Not Because Companies Started Paying Women More
- The Gender Pay Gap: A Brief History
- The COVID Public Health Emergency Ends This Week. Here's What's Changing
- Women in the Workplace 2022 study by McKinsey & Company
- Are Women Too Timid When they Job Search?
- The Financial Archetype Quiz
- How to Negotiate Your Salary Like a Pro
- The Top 5 Traits That Make Women Awesome Investors
- A Woman's Guide to Growing Wealth in Your 40s, 50s, and 60s
- Join the Abacus community by connecting with us on Facebook, Twitter, Instagram, and on LinkedIn
- Connect with Mary Beth on Twitter, Instagram, and on LinkedIn
- Connect with Neela on Twitter, Instagram, and on LinkedIn