Have any of you read the book, Half The Sky? That book changed my LIFE. I knew the wage gap existed (I grew up in Silicon Valley) but I did not realize this was a world wide epidemic.
Authors Nicholas Kristof and Sheryl WuDunn investigate how to solve many of the issues women face such as gender-based violence, sexual assault, maternal mortality, and sex trafficking. Their discovery?
Investing in women reduces gender inequality and it starts with education.
The World Economic Forum estimates that it will take 217 years for women to reach pay parity, up from 170 last year. On average, women are paid 20% less than men. Hispanic women make 55 cents to the dollar. Black women make 62 cents to the dollar. Mothers suffer a 5% wage penalty for every child they have. Depressing shit, right?
Nay. Women and girls around the world are fighting their right to an education. Malala Yousafzai is a force to be reckoned with. She is a prime example that an educated woman leads to economic empowerment.
Think about it. We can turn oppression into opportunity if we invest in women. THIS is where economic progress is made. Hiring women and paying women can fight poverty.
According to the International Monetary Fund, closing the gender pay gap would increase the United States GDP (Gross Domestic Product) by 5%. A 2015 study by the McKinsey Global Institute found that $12 trillion could be added to global GDP by 2025 by advancing women’s equality.
The greatest unexploited resource is the female half of the population- not just in the United States, but in the world.
Reality is, we as women can only do so much by asking for raises and negotiating salaries. Shout out to Ladies Get Paid for helping women get paid what they deserve. Women cannot be the only ones demanding change.
We need serious policy change. We need companies to demand legislation that empower women to succeed EQUALLY to their male counterparts. Contact your legislators, be aware of any changing laws, and talk to your company about combatting the wage gap, together. Oh, and ladies, ask for more money. You deserve it.
The entire world economy depends on it 😉