We’re spotlighting women’s wealth in honor of International Women’s Day and Women’s History Month.
Join us as we dig into some of the stats surrounding women’s financial empowerment. From the rising number of women controlling wealth as they outlive their spouses to tackling stereotypes that hinder women’s earning potential, this episode addresses the systemic barriers that impact women’s financial journeys.
The Burden of Unpaid Labor
Globally, women perform three times more unpaid care and domestic work than their male counterparts. This gap not only skews financial independence but also limits career opportunities and the ability to break free from the cycle of poverty. Making changes such as sharing household responsibilities and challenging outdated stereotypes of gender roles can alleviate the disproportionate burden carried by women.
Higher Education and Persistent Pay Gaps
47% of women aged 25 to 34 in the U.S. have completed college, compared to just 37% of men. Despite a generally high level of education, women still earn about 8% less than their male counterparts in the same roles. Encouraging pay transparency, advocating for gender pay equality legislation, and reshaping workplaces into inclusive environments are necessary steps to realigning the scales.
Redefining Roles and Stereotypes
Only 41% of American households now have women as the primary or sole breadwinners, demonstrating that women are challenging traditional roles. Despite this progress, biases hamper women’s contributions, perpetuating myths that women ‘choose’ lesser-paying roles or are less focused after motherhood—despite studies showing increased productivity among mothers. Supporting diverse leadership enhances organizational performance, as diverse teams report higher operating margins and returns on sales and earnings.
Only 18% of companies have women in top-level leadership roles, revealing an essential leadership gap. Forward-thinking companies recognize that diverse teams outperform their homogenous counterparts. By challenging the outdated ‘success prototype’ often represented by male-centric attributes and creating opportunities for diverse recruiting, companies can leverage different perspectives to drive innovation and success.
Global Progress and Challenges
Although progress is uneven globally, regions like Central Asia boast the highest share of female researchers, indicating potential for role models and innovation worldwide. While 75% of countries have laws against domestic violence, we need to put more effort into supporting vulnerable individuals and communities by raising awareness and providing resources.
The path to gender equality isn’t short, but small, consistent actions will lead to real systemic change. Educating ourselves, advocating for equity, and dismantling biases are the only ways to create a future where women’s financial potential and leadership voices are fully realized.
Outline of This Episode
- [00:00] Women are increasingly managing wealth due to rising life expectancies, career earnings, and control over family finances
- [04:27] Participation in sports builds confidence, teamwork, and leadership. Parents and leaders should encourage girls to stay active in sports
- [07:24] Empower women by sharing domestic responsibilities and reconsidering biases to help reduce poverty
- [10:32] Despite choices for part-time or flexible jobs, women still earn about 8% less than men for the same roles.
- [13:04] Women’s earnings and potential often decrease when they become mothers, despite studies showing they are more productive than childless women
- [16:12] Men interrupt women 33% more than they do men, reflecting cultural norms of power and connection in communication
- [19:53] Prioritizing women’s education and economic advancement benefits entire communities
Resources & People Mentioned
- Presence by Amy Cuddy
- Born a Crime: Stories from a South African Childhood by Trevor Noah
- Factfulness: Ten Reasons We’re Wrong About the World
- Gapminder.org
- It Ends with Us by Colleen Hoover
- It Ends With Us Movie
- InterAct of Wake County
