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How Supporting Younger Women And Minorities Can Change The Pay Gap

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We are all very familiar with the fact that women make less than men do. As women, the fight for progress and equality in the workplace is a daily occurrence. So the recent study by Payscale on the gender pay gap reporting that women make on average 76 cents to the dollar of men is not surprising to any of us. This may seem like an unsurmountable statistic in our lifetime, but if you dig in further, there are some key insights worth addressing that are actionable today.


1

Why the pay gap exists

If you take the average of all women vs. the average of all men, women make 76 cents to the dollar of the average man. The gap is obvious given that men dominate the executive ranks and our boardrooms. Job titles and seniority have a direct correlation to salaries. And since women aren’t holding as many senior roles in corporations as men do, that explains a large part of the gap. In addition, men hold the majority of jobs in some of the highest paying fields (e.g. STEM). Therefore, it’s pretty clear why the average women makes less than the average man.

2

Women are being paid less than men for doing the same job, but not as much as we think

According to the study, when women are in the same roles and have the same background and education, women are making about 98 cents to the dollar of men. So yes, the disparity is about 2 cents on average. It’s not as large as we think. We’ve improved this figure greatly through the years and we are continuing to close this gap through some of the amazing efforts out there, but there is still more work to do. There are still biases and prejudices that happen daily.

3

The widening of the gender pay gap starts at 25 years old

The payscale research is extremely valuable because it tells us that while men and women might start off as equals in the workforce after college, as they move along in their careers, they progress into senior roles at different rates. This is a key driver in the gender pay gap. Since the gap only get’s larger as women get older.

The study shows the gap begins around 25 years old, when most people start experiencing their first opportunity to move up and get promoted.

The gap between men and women just gets larger and larger after that, by mid-career, “Men are 85% more likely than women to be VP’s or C-Suite Execs and 171% more likely to hold those positions late in their career”. These results are echoed in the recent Women in the Workplace study conducted by McKinsey & Lean In.

4

There are three actionable ways to help close this gap

Getting more women into STEM roles:

The industries with the largest pay gap are in STEM related industries. Even before entering the workforce, in high school and in college, we can create awareness and education around STEM roles. According to the NGC (National Girls Collaborative Project), while women make up 50 percent of the college educated workforce, they only represent 29 percent of the STEM workforce.

According to the Smithsonian Science Education Center, between 2000–2010, STEM related jobs grew 3 times the rate of non-STEM jobs. It is projected that by 2018, 2.4 million STEM jobs will go unfilled. In addition STEM salaries on average are 25 percent higher than non-STEM salaries.

Addressing Ambition & Confidence:

This research confirms a lot of what I see with young women in the workforce. According to a recent Bain study, women enter the workforce with higher ambitions than men, but after two years in the workforce (experience employee in the chart below), their ambition plummets 60 percent, while men’s ambitions stay the same, and only grows thereafter.

This tells us that something is happening in the workplace for women during this early years. Both the Women in the Workplace and the Bain study attribute the corporation’s role as critical in creating a workplace that can better encourage and support a woman’s ambition.

In addition, a Wall Street Journal article sheds light on female professional ambitions and the desire to attract a mate. The article is based on a recent Harvard study, called “Acting Wife: Marriage Market Incentives and Labor Market Investments”. The report is based on two field experiments in an elite MBA program. Results show that single women play down their ambitions when their is a presence of men, because of their desire to attract a mate. Some of the most young and ambitious women in the United States feel like they need to sacrifice their ambition because they feel that makes them less desirable in the marriage market. This is not the case for men.

Lastly, we cannot talk about the gender pay gap without addressing race. According to a recent Pew research study on Views of Race and Inequality, Black and Hispanic women earn significantly less than Asian and White women. Our investment in this area is critical to the success of all women. It is projected that by 2050, Hispanic and Latino women will make up nearly 39% of the total female population.

The Opportunity for Employers to Create Opportunities for all Women:

I have worked with and hired many bright and talented women early in their career. I have found that this is the most critical time in their careers as well. If they don’t receive the proper encouragement, management, and mentorship there is high likelihood that their ambitions and confidence will decrease dramatically. In order to even the playing field, here are my takeaways and suggestions:

Encourage, mentor and promote young women. This sounds very straightforward but hard in practice. We need to train our middle management teams, they are on the frontline here.

Create programs that support minority women in the workplace. When you invest in diversity, we all win.

Teach women to better negotiate promotions and salaries. Women aren’t confident asking for what they want, but this can be a learned skill.

Provide women the opportunity to take leadership roles on projects, letting them own something provides them the opportunity to demonstrate their abilities, create visibility for themselves, learn and develop new skills, generate confidence and also be considered for promotions.

Understanding a woman’s desire to progress up the corporate ladder. This may not always be clear once a woman starts her career, but if we better understand what her greatest strengths are, we can help show her paths towards success.

Creating an open discussion around childbirth and maternity leave and returning to workplace. Companies are ongoing a huge change right now to address issues related to mothers in the workplace. Companies need to address and understand the concerns of maternity leave for women and create programs in place that could allow working moms to succeed.

3 Min Read
Lifestyle

Tempted To Dial Your Ex: 5 Ways To Know Whether Or Not You Should Contact An Old Flame

Thinking of ringing up your ex during these uncertain times? Maybe you want an excuse to contact your ex, or maybe you genuinely feel the need to connect with someone on an emotional level. As a matchmaker and relationship expert, I was surprised at the start of the coronavirus quarantine when friends were telling me that they were contacting their exes! But as social distancing has grown to be more than a short-term situation, we must avoid seeking short-term solutions—and resist the urge to dial an ex.

It stands to reason that you would contact an ex for support. After all, who knows you and your fears better than an ex? This all translates into someone who you think can provide comfort and support. As a matchmaker, I already know that people can spark and ignite relationships virtually that can lead to offline love, but lonely singles didn't necessarily believe this or understand this initially, which drives them straight back to a familiar ex. You only need to tune into Love Is Blind to test this theory or look to Dina Lohan and her virtual boyfriend.

At the start of lockdown, singles were already feeling lonely. There were studies that said as much as 3 out of 4 people were lonely, and that was before lockdown. Singles were worried that dating someone was going to be off limits for a very long time. Now when you factor in a widespread pandemic and the psychological impact that hits when you have to be in isolation and can't see anyone but your takeout delivery person, we end up understanding this urge to contact an ex.

So, what should you do if you are tempted to ring up an old flame? How do you know if it's the wrong thing or the right thing to do in a time like this? Check out a few of my points before deciding on picking up that phone to text, much less call an ex.

Before You Dial The Ex...

First, you need to phone a friend! It's the person that got you through this breakup to begin with. Let them remind you of the good, the bad and the ugly before taking this first step and risk getting sucked back in.

What was the reason for your breakup? As I mentioned before, you could get sucked back in… but that might not be a bad thing. It depends; when you phoned that friend to remind you, did she remind you of good or bad things during the breakup? It's possible that you both just had to take jobs in different cities, and the breakup wasn't due to a problem in the relationship. Have these problems resolved if there were issues?

You want to come from a good place of reflection and not let bad habits make the choice for you.

Depending on the reason for the breakup, set your boundaries for how much contact beforehand. If there was abuse or toxic behaviors in the relationship, don't even go there. You can't afford to repeat this relationship again.

If you know you shouldn't be contacting this ex but feel lonely, set up a support system ahead of time. Set up activities or things to fall back on to resist the urge. Maybe you phone a different friend, join a virtual happy hour for singles, or binge watch Netflix. Anything else is acceptable, but don't phone that ex.

Write down your reasons for wanting to contact the ex. Ask yourself if this is worth the pain. Are you flea-bagging again, or is there a friendship to be had, which will provide you with genuine comfort? If it's the latter, it's okay to go there. If it's an excuse to go back together and make contact, don't.

Decide how far you are willing to take the relationship this time, without it being a rinse and repeat. If you broke up for reasons beyond your control, it's okay. If your ex was a serial cheater, phone a friend instead.

If there was abuse or toxic behaviors in the relationship, don't even go there. You can't afford to repeat this relationship again.

As life returns to a more normal state and you adjust to the new normal, we will slowly begin to notice more balance in our lives. You want to come from a good place of reflection and not let bad habits make the choice for you. Some do's and don'ts for this time would be:

  • Do: exercise ⁠— taking care of you is important during this time. It's self-care and maintaining a healthy lifestyle.
  • Do: shower, brush your teeth, and get out of your sweats.
  • Don't: be a couch potato.
  • Don't: drink or eat excessively during this time. Again, remember to maintain a healthy lifestyle.
  • Do: think positive thoughts everyday and write down the 3 things you are grateful for. Look at the impact of John Krasinksi's SGN. It's uplifting and when you feel good, you won't want to slide backwards.
  • Don't: contact a toxic ex. It's a backward move in a moment of uncertainty that could have a long term impact. Why continue flea bagging yourself?