We've talked about the gender pay gap around here before, but today is an interesting date to mark. It is the day most men would need to start work every year to earn the same annual yearly wage as women in the same role. I know, it's hard for me to digest too.
President Obama is issuing two executive actions today to try to bolster pay equity for women and is encouraging the Senate to pass the Paycheck Fairness Act—which is aimed at closing the loopholes in the half-century-old Equal Pay Act (this was blocked from getting to a vote by the GOP last year). The President will also honor Equal Pay Day today with Lilly Ledbetter. In 2009, President Obama signed the Lilly Ledbetter Fair Pay Act, reinstating prior law that helps people who have been victims of pay discrimination due to their gender, religion, age, or race try to recover lost wages.
MSNBC reports that "according to the Census Bureau, a wage gap of 77 cents to the dollar exists between women and men, with that figure widening to 64 cents to the dollar among African-Americans and 55 cents to the dollar among Hispanics." Ouch.
Levo League, a resource and community for young professional women, has launched Let's Ask, a campaign encouraging women to ask for a raise (you can join in the conversation on Twitter using #Ask4More). Our "mission is to build awareness on an important issue: gender pay inequality," explains Caroline Ghosn, CEO and founder of Levo. "Many young women we speak to today don't realize this is a real problem, until they hear the facts. Did you know just one year out of college a woman is making only 82 percent of what her male counterparts earn?"
Levo is trying to help. "We also have an entire section called 'How Much Does the Wage Gap Affect You?' that will tell you, based on your job, location, and years of experience, how much money you should be making," Ghosn explains. "Finally, we showcase guides to negotiation, leadership, mentorship, skill-building, and establishing work-life balance so that you can continue to become better and better with each passing day of your career."
But what's really key is getting the Senate to pass the Paycheck Fairness Act. Until we know we're being discriminated against and it's easier to hold people accountable for gender discrimination, not much is going to change.
Get more advice on how to succeed at work from Jenna Lyons, Diane von Furstenberg, Annie Leibovitz, and other women who aren't afraid to ask for what they deserve: