Black Women Can't Wait Anymore
Today is Black Women's Equal Pay Day
Good Morning #NoteddTribe! Today is August 3rd. The day Black women must work into 2021 to finally catch up to what white men earned in 2020.
Black Women’s Equal Pay Day brings awareness to the discrimination Black women face in the workforce. Annually, the National Women’s Law Center releases a report and fact sheet that discloses the latest statistics of how Black women’s salaries compare to their white male counterparts, which are as follows:
Black women typically make just 63 cents for every dollar paid to white, non-Hispanic men.
This disparity has only closed by 3 cents over the last thirty years, which means Black women are not projected to reach equal pay until the year 2130.
The wage gap adds up to a typical loss of $24,110 a year and a staggering loss of $964,400 over a 40-year career.
Journalist and Forbes Contributor Holly Corbett shares the many reasons why the gap exists: unconscious bias, the racial wealth gap, student loan debt, the dual roles of working and caregiving, along with the perpetual cultural forces and societal limitations.
These inequities didn’t grow just overnight, and therefore require companies and legislative action to make real change in favor and equal to all. Today, multiple experts will raise awareness through virtual events, including panel discussions and Twitter chats, on ways businesses can rightfully even the playing field by adopting practices such as inclusive hiring and becoming more pay/salary transparent.
To learn more, visit this complete listing of events to participate in. The toolkit linked below also provides social content, including images and pre-developed messaging, to raise awareness on your channels.
You may be asking, what can I do? Financial experts are encouraging Black women to have more salary negotiation conversations. Research shows that women are less likely than men to negotiate their salaries. It’s always easier said than done, but here are a few tips and best practices from The Frugal Feminista, The Budgetnista, and My Fab Finance to consider if you feel like it’s time to have this conversation with your manager or boss. The time is now, chile!
If you need more encouragement, make sure to attend TONIGHT’S # HIREBLACK’s Salary Negotiation Workshop to receive even more tips and best practices to build into your conversations.
Would you mind sharing this newsletter with your network? We want to ensure that this vital conversation on closing the pay gap for Black women continues and that we are all equipped to ask for what we deserve when negotiating our salary.
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