Relationships Why Women Need to Start Talking About Their Salary (Infographic) Read the Article Open Share Drawer Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on Tumblr (Opens in new window)Click to share on Pinterest (Opens in new window)Click to share on LinkedIn (Opens in new window) Written by Turbo Modified Oct 29, 2021 2 min read Sources Advertising Disclosure The views expressed on this blog are those of the bloggers, and not necessarily those of Intuit. Third-party blogger may have received compensation for their time and services. Click here to read full disclosure on third-party bloggers. This blog does not provide legal, financial, accounting or tax advice. The content on this blog is "as is" and carries no warranties. Intuit does not warrant or guarantee the accuracy, reliability, and completeness of the content on this blog. After 20 days, comments are closed on posts. Intuit may, but has no obligation to, monitor comments. Comments that include profanity or abusive language will not be posted. Click here to read full Terms of Service. As of this year, women earn 79 cents for every dollar that a man makes. When controlled for industry and job title, the gap decreases to 94 cents for every dollar. When it comes to how much women are paid, there are a huge number of factors that drive the wage gap. Many argue that part of the reason why the gap appears to decrease when controlled for position is that women are less likely to be promoted or hired for high-paying jobs. Studies have shown that despite starting in similar positions on average, by late-career 57 percent of men are managers or higher, while only 41 percent of women are. This is known as the opportunity gap. Additional research from QuickBooks shows that while 1 in 3 men are paid a salary, only 1 in 4 women are salaried. See Average U.S. Salaries Until the Equal Credit Opportunity Act of 1974, some banks still required unmarried women to have a man co-sign for them on a loan, regardless of income or creditworthiness. Women have been historically characterized as frivolous spenders and given lessons on budgeting and saving — but almost no financial education around investing and credit. This leads to a lack of confidence in women around finances. 92 percent of women want to learn more about financial planning, but only 47 percent feel confident when talking about finances with a financial professional. While there are a large number of factors that affect how much women earn, a crucial step towards closing the wage gap is encouraging women to talk about their finances and talking to women about money from an early age. From having a conversation about their salary with a coworker, asking for a raise, or teaching young girls the power of investing, equality begins by forgoing taboos around money and encouraging open education and conversation. Check out our infographic for more surprising statistics on the state of women and finances, and what we can all do to start the conversation. More resources for learning about salary: A "Good Salary" See averages for good salaries in the U.S. Competitive Pay Learn what it means and how to get it. Negotiation Here are some salary negotiation tips. Get Promoted Read tips for asking for a promotion. Written by Turbo More from Turbo Sources Refinery29 | FastCompany | GirlBoss | GiftCards | CNBC | Bustle | HBR 1, 2 | Payscale Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Notify me of follow-up comments by email. Notify me of new posts by email. Δ Browse Related Articles Trends In Which States Do Women Earn the Most Money? Financial Planning #BlackWomensEqualPayDay How To Understand And Improve B… Relationships Leaving Money On the Table: Survey Finds 58% of Millenn… Salary What Is a Good Salary? And How Do You Compare? Trends Falling Into the Wage Gap: Why Do Women Earn Less Than … Personal Finance Navigating the She-Cession: The Intersectionality of Ec… Career How To Counter Offer Salary [With Email Templates] Credit Info Do Women Face Different Personal Finance Challenges Tha… Saving 50/30/20 Budgeting Rule: How to Use It [Instructions + … Investments Investing Advice We Can Learn from 10 Successful Lady B…