Women continue to make less than men, but the gap in equal pay is wider for women of color.
If the wage gap keeps narrowing at the pace it has been the last 50 years, Black women will not catch up to white men until the year 2124 (that’s 107 years from now), Hispanics until 2248, and white women until 2056 according to an analysis by the Institute for Women’s Policy Research.
Women make up 57 percent of the work force. The Department of Labor reports women working full time made 79.6 percent of men’s earnings in 2015, or 79.6 cents of every dollar a white man made — an increase of 19.4 percent compared to 1980.
Jacquette M. Timmons, financial behaviorist and author of “Financial Intimacy” says Black women need to speak up to get what they want.
“One of the biggest mistakes you can make is having the mindset that you don’t deserve to ask. Make sure you come into it with a lot of confidence; you have the right to ask.”
In 2016, Black women made $641 a week compared to white women who made $766, and made nearly $300 less than White men (they made $942) according to an analysis by the Institute for Women’s Policy Research.
Although women continue to make less than men, progress has been made. The Institute for Women’s Policy Research reports that from 2015-2016, weekly earnings among Black women increased 2.9 percent, Hispanic women saw an increase of 2.2 percent, and white women 1.18 percent.
We spoke to five career strategists about how to navigate negotiating as a woman of color.
Read the entire story here.
