What are you doing in the year 2119? That’s the year the American Association of University Women predicts that the gender pay gap will finally close, unless we take steps to bridge the gap sooner.
On average, white women earn 79 cents on the dollar compared to white men, black women make 63 cents, and Latina women make just 54 cents. Latina Equal Pay Day was recently observed on Nov. 20 to bring awareness to how this gap adds up: Latina women may lose up to $1 million over the course of their working lives, or around $26,000 annually due to the gap.
This week’s guest, Katica Roy, is here to tell us all how we can work together to speed change and get the gap closed sooner than projected. Katica is a gender economist and CEO of software company Pipeline that helps employers manage everything from the hiring process to employee reviews. As a gender economist, Katica looks at the economy through the lens of gender to see where it’s working and where it isn’t, and today she shares how we can level the playing field for ourselves and our fellow women.
Listen in as Katica shares some fascinating (and infuriating) facts about how often women are underpaid, and what corporations can do to help speed change. Katica details research from her company that spanned 4,000 companies and 29 countries, showing that for every 10% increase in gender equity, there is a 1% to 2% increase in revenue to a company’s bottom line. She also talks about the sea change she’s leading to shift the conversation and get more people thinking about gender equity as an economic opportunity rather than a social issue.
Katica shares her tips for getting paid more (along with a personal story!) as well as tips on how to negotiate, and details on how the gender wage gap impacts women of color and non-binary womxn. She and Jean also discuss how women are being adversely impacted by the pink tax. “When we talk about the gender pay gap, we talk about money coming into women’s wallets, but the pink tax means more money is coming out of our wallets when we pay for everyday items,” she says, explaining how women pay an average of 7% more than men for things like razors and shampoo.
Lastly, in Mailbag, Jean tackles questions about dating and debt, what to do with old retirement accounts, and how to manage asset allocation if you’re part of the FIRE movement. In Thrive, Jean dives into the expense of campus visits and what to do with your teen to ensure you aren’t spending too much on college before you’ve even paid your first tuition bill.