Mind the gap! This is the universal call from conductors, painted signs, and posted placards from The Tube in London to the Metro in Milan…and hundreds of transit stations in between. The first people tasked with warning commuters of this continual shift in ground knew the phrase had to be short and convey everything necessary to save lives and keep trains moving.
Mind The Gap…and Close It, echoes Ellevest conductor Sallie Krawcheck referring to the gender wage gap. Below, I’ll briefly share with you what she has to say and arm you with tools to learn more and save on membership. Full disclosure, Ellevest is an affiliate “partner” of STOCKED.
Here goes:
We hear so much about the gender pay gap, that 82 cents that that elusive average woman earns in comparison to a white man's dollar. We hear much less about the gender wealth gap. If this [gestures] is what she earns, this [gestures] is what she has and what she keeps. It's her bank account. It's her investments. It's real estate if she owns it, from which you subtract how much she owes. Credit card debt, mortgage, student loan debt.
Gender pay gap, 82 cents, moving slowly in the right direction. Gender wealth gap, 32 cents — for Black women, a penny; for brown women, a penny. Moving in the wrong direction. With that movement in the wrong direction picking up, likely due to the pandemic. This is why we founded Ellevest, in order to help move that wealth gap — yes, the pay gap, but the wealth gap — in the right direction.
Wise words meant to save us all.
If you like what you are learning, here is the link to her 80 page eguide on the matter.
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