5 Ways Women Can Fight the Gender Pay Gap (Besides Asking for More Money) The gender pay gap isn't going away by itself, so here's what we can do to eliminate it.
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When it comes to women and money, it's always a good idea to ask for more. It's a conversation most of us have had several times throughout our careers. But when it comes to fighting the ever-lingering gender pay gap it's not always enough. No matter how much we talk about it with our friends, share about Equal Pay Day or ask for more, the problem persists. In 2020, Pew Research Center reported that women earned roughly 84 cents for every dollar earned by men. For women of color, the gender pay gap is even worse — with Hispanic women earning roughly 57 cents for every dollar earned by white men, Native American women earning 60 cents for every dollar and Black women earning 64 cents for every dollar. It's a disparity that exists even when you adjust for job title, experience, education and industry. Plus, research shows that women are asking for raises just as much as men — they just aren't getting them.
So what can we do about it?
1. Talk about money with your friends and coworkers
Talking about money can be scary, especially since it's a subject that people have considered to be taboo for decades. However, research shows that pay transparency is one of the easiest and most effective ways to eliminate the gender pay gap across the board. Some employers might frown upon the idea of you sharing your salary with your coworkers. But it's actually illegal for them to prohibit these conversations and to punish you for having them.
Not ready to talk about money at work? Start by talking about money with your friends and family. It can be a sensitive subject, but it can also shed light on whether or not you're being paid fairly. In fact, talking about money with a friend actually helped me double my income when I first started as an entrepreneur. And, it's part of why I've become such a huge advocate for financial transparency among women.
2. Focus on community over competition
There's an old adage that says, a rising tide lifts all boats, and this is incredibly true when it comes to ending the gender pay gap. While there's nothing wrong with a bit of healthy competition, female rivalry is holding many of us back.
Related: A Step-By-Step Guide Of Women Supporting Women At Workplace
Women face enough obstacles in the workplace. Women are less likely to receive raises, less likely to receive funding, less likely to receive mentorship — all of which are barriers to women's financial and professional advancement. This is particularly important when it comes to supporting women of color. They are less likely to experience burnout and more likely to stay at their jobs when they feel like they have strong allies at work.
3. Support women-led businesses
Another easy way to fight against the gender pay gap? Support businesses that are owned and led by women. We already know that there are big benefits to diversity in leadership — diverse teams lead to increased profitability, creativity and even better problem-solving. But diversity may have an impact on the gender pay gap as well. One study even found that the pay gap was over $100,000 higher for female surgeons working in practices where 90 percent of surgeons were men when compared to those working in practices with an equal number of male and female doctors.
Related: Why Leadership Is at the Crux of Closing the Gender Pay Gap
And the best way to increase gender diversity, even in predominantly male fields? Increase the number of women in leadership. Female-led companies are more likely to hire women. Research shows that having more women in the workplace doesn't just benefit them — it actually makes organizations better places to work for all genders.
4. Advocate for better benefits like paid leave and childcare
When it comes to fighting the gender pay gap, paid leave and childcare might not be the first things that come to mind. However, a recent report from the Century Foundation discovered that better access to support like paid leave and childcare helped narrow the gender pay gap and increased women's workforce participation.
Related: 5 Tips to Reduce Female Attrition in the Workplace
The gender disparity when it comes to unpaid work is a major factor in limiting women's economic advancement. The value of women's unpaid work amounts to a whopping $10.8 trillion every single year. While paid leave and childcare won't erase gender inequality, advocating for them doesn't just benefit women. It also boosts employment opportunities and drives economic growth for all of us.
5. Support raising the minimum wage
Another clear way to fight against the gender pay gap is to support a minimum wage increase. Raising the minimum wage would impact 32 million American workers, approximately 21 percent of the workforce and more than half of those workers are women. This would particularly benefit Black and Latina women, who make up a whopping 23 percent of workers receiving low wages in the United States.
Raising the minimum wage is a controversial subject for many. But economists believe that the positive impacts of raising the minimum wage — lifting millions out of poverty, reducing racial economic inequality and tackling the gender pay gap — far outweigh any potential negatives.
