Gender Wealth Gap

Can you believe it is 2021 and women are still earning 82 cents for every dollar paid to men? Do you want to dive in and understand why? It can be hard to acknowledge this fact, but it is out there and our responsibility as women to understand and make a stand.

Here are some facts that may or may not surprise you:

  1. Women are deeper in debt
  2. Women have more challenges at work
  3. Women have greater expectations at home
  4. Women are less likely to invest

According to The Skimm, “the pandemic made it all worse: women (again, especially BIPOC women) are losing more jobs, getting hired less, and spending more time on caregiving. Decades of progress toward gender economic equality has been undone in months.”

Here at Snowball we are very focused on paying our employees a fair market rate and have committed to paying men and women equally. We offer yearly increases, good benefits, and bonuses throughout the year. Our favorite time of year is November when we focus on our gratitude bonus and reflect on the amazing work and accomplishments throughout the year and show our appreciation.

As women we do not always look to the future and plan. Ok ladies, if you are getting paid a good salary and bonuses the world and your wallet  is waiting for you. Here is another checklist to spark your interest:

  1. Pay off debt asap
  2. Invest your money sooner than later it will grow (look into Social Choice Funds)
  3. Build your personal brand and become your own advocate, AKA as for a raise
  4. Vote and support issues you believe in
  5. Support other women! Invest in and shop at women-led businesses. 

Lastly, find your passion and work with people that inspire you and push you to fulfill your dreams. Women are amazing and we are relentless when we put our mind to it. This spring season, things are looking better already. Let’s forge ahead and try to close the gender wealth gap together!

Written by: Jenny Dela Cruz

Sources: The Skimm