Did you know it will take about 170 years to close the gender wage gap? And the group of women with the highest disparity is Latinas. For 2020 Latina Equal Pay Day lands on October 29.
This is the day when a Latina’s pay catches up to that of white, non-Hispanic men from the previous year. That’s right, it takes almost an additional 11 months for Latinas to earn the same amount as white men earn in twelve months.
According to the Census Bureau, Latinas are paid 55 cents for every dollar earned by white, non-Hispanic men.
Take a look at the graphic below for a better visual representation of the gender wage gap.
The National Women’s Law Center has determined that a Latina will lose about $1,121,440 over the course of her career due to the pay gap. Imagine that, what could you do with an extra million dollars in your lifetime?
Now I know there are a lot of factors that go into the earnings of individuals, but research by the Economic Policy Insititute has shown that Latinas earn less at every educational level.
Unfortunately, COVID-19 has only exacerbated the effects of the wage gap leaving women, especially Latinas and mothers, unable to weather any severe economic crisis. Not to mention, nearly two in three front-line workers is a woman – think of fields like child care, health care, grocery stores, restaurants, retail, and hotels. Women of color are particularly overrepresented in these fields.
While all of this information can seem discouraging, the important thing is to take action. See below for some ways both employers and individuals can take action against the gender pay gap.
How can we bridge the gap?
Undercover Recruiter gave us 6 different ways employers can help bridge the gender pay gap.
- Incentivize paternity leave
- Subsidize childcare
- Introduce remote working
- Be transparent about pay
- Ensure that promotions and rewards are fair
- Give female employees a raise
These are great initiatives, but how can we as individuals bridge the gender pay gap?
- Become an advocate for equal pay.
- Work on our negotiation skills.
- Be transparent about your salary.
- Empower women
- Voting – not just in national elections, local and state ones too.