This translates to:
If base salary isn’t negotiable, ask if bonuses, extra paid vacation time or other benefits are.
I make 21% lessmore than the average manwoman in my industry.
EARNINGS FROM INVESTMENTS
The gap doesn’t end there.
If you’re making more, that means you also have more money to invest.
When you calculate the amount of interest earned on savings, the wage gap widens to $ more over the next 33 years until your retirement.
If you’re making less, that means you also have less money to invest.
When you calculate the amount of interest lost on savings, your wage gap widens to $ less over the next 33 years until your retirement.
Save a minimum of 10 percent of your salary. Through compounding interest, you'll reach the $1 million mark.
WHAT DOES THIS MEAN FOR YOU?
Your wage gap compounded with interest translates to:
WOMEN'S PRODUCTS COST MORE
The pink tax
There’s a common practice among service providers and companies to charge more for products marketed to women than identical products marketed to men.
Do Your Homework
The next time you’re at the store, check out two similar products that are marketed to men versus women. Which costs more? Is the traditionally feminine color or design worth the extra cost?
DO THE MATH
I will spend $816 moreless on deodorant in my lifetime because I am a womanman.
Think about it.
Men and women start with the same student loan debt, but on average, the wage gap means that it takes women longer to pay off their loans.
The longer it takes to pay off loans, the more interest is accrued.
The more interest accrued, the higher the total cost of education.
The Bottom Line: The same education costs women more than it costs men.
Percentage of Student Loan Debt
Paid Off 5 Years Post-Graduation
Parental leave is complicated.
Women lose when they take leave, but men gain when they do.
Taking maternity leave typically results in lost promotions and raises.
Taking paternity leave closes the wage gap for the mother because both parents are able to share parenting responsibilities.