Women Earn $0.82 for Every $1 Men Earn. 5 Ways to Fight for Progress This Equal Pay Day

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Even in 2023, women make less money than their male counterparts. 

Equal Pay Day is on March 14, 2023, making for the perfect opportunity to discuss what we can do to work toward continued progress for equality. Sadly, financial inequalities still exist between men and women — even in 2023. But that doesn’t mean that continued progress is impossible. We can take action in our everyday lives to bring more awareness to the issue as we fight to eliminate the wage gap.

Women are still paid less than men

In 2023, there is a significant difference in the wages that men and women are paid, and a wage gap still exists. The wage gap has narrowed over the years as continued attention is brought to the problem. But unfortunately, even in the United States, the average woman still makes significantly less money than the average man. Women of color make even less.

According to recent data from Pew Research Center, in 2022, American women typically earned $0.82 for every $1 earned by men.

How does the current wage gap compare to prior years?

In 2002, women earned $0.80 to the dollar.In 1982, women earned $0.65 to the dollar.

Looking back at history, we can see that there has been some progress in narrowing the wage gap, but progress has been slow, and there is still a lot of work to do. According to the Institute for Women’s Policy Research, it’s estimated that women won’t reach pay parity until 2059. That’s a long time to wait for equal compensation.

Five ways to fight for progress

Reading stats like those mentioned above can be depressing. But if we want to make changes, we must do the work. So, what can we do to work towards continued progress to close the wage gap? Here are some ways that you can make a difference:

Talk about pay: We all need to get more comfortable discussing wages. When we talk about pay with family, friends, and coworkers, we’re helping to normalize the conversation. These discussions also help educate and may encourage someone you care about to ask for a raise or apply for a new job to be compensated more fairly.Learn negotiation skills: Learning new skills is never a bad idea. By learning to negotiate, you can feel more confident and comfortable when asking for a raise or negotiating for a higher salary when a new job opportunity comes your way. You’ll feel more financially secure with more money in your checking account.Support legislation to increase the federal minimum wage: There are significantly more women than men working minimum wage jobs in the United States. According to the National Women’s Law Center, women make up over two-thirds of minimum-wage workers across the country. Raising the federal minimum wage would not only improve many women’s lives, but could help narrow the wage gap more quickly.Research compensation before accepting a job offer: Take the time to research average wages for a position before deciding to accept it. You want to ensure you’re getting paid fairly for the work you will be doing. Online research tools like Salary.com and Payscale.com can help you learn about average salary rates and compensation packages.Improve your personal finance knowledge: Women can improve their personal finance knowledge and make financial decisions that set them up for a better future. Starting to invest as early as possible is one way women can work to increase their wealth and protect their financial futures.

Knowledge is power

Yes, many women workers are making less money than men — even for the same work. But we can use our knowledge about wage gaps to make positive changes. Learn as much as possible about important financial matters to stretch your money further. And as you learn more, share your knowledge with the women in your life so they can benefit, too.

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