Best Money Moves’ Post

The Work and Money Worries report published yesterday reveals a concerning disparity between young men and women when it comes to optimism and support in their careers: - 56% of young women (18-30) feel optimistic about work, compared to 64% of young men. - The same ratio of women to men believe they have the support needed for career progression. - 26% of young women remain in jobs they don't enjoy due to financial limitations, compared to 20% of young men. With women disproportionately affected by the rising cost of living and often feeling isolated when planning their career moves, it's time to push for pay equality and transparency. Read on for more: https://heyor.ca/u8i5JA #GenderEquality #PayEquality #PayTransparency #EqualOpportunities #WorkplaceEquality

Today is #EqualPayDay24 in the UK—the day when, based on average pay, women effectively stop earning compared to men, working for free for the rest of the year. This stark reminder stems from an 11.3% gender pay gap, up from 10.4% last year. At our recent event, experts from UCL Public Policy, the Institute For Fiscal Studies, the Resolution Foundation and the Fawcett Society explored how structural inequalities intersect with the government's current agenda. The discussion shed light on critical policy challenges. 📉 Key insights from the event (Fawcett Society, 2023): - Women in their 40s are unlikely to see the gender pay gap close in their lifetime. - Gender pay disparities are exacerbated by intersectional inequalities—including race, class, and disability. - "The Ethnicity Motherhood Pay Penalty" shows that gender, ethnicity, and parenthood intersect to produce even greater wage gaps for Black and minoritised mothers. These findings underscore the entrenched nature of systemic inequalities, requiring intersectional, evidence-based solutions. UCL Public Policy and UCL Grand Challenges are dedicated to bridging academia, policymakers, and third-sector leaders to tackle persistent inequalities across the UK. You can watch or hear more about our findings and the next steps in the discussion here: 👉 Watch: https://lnkd.in/eVKT-_sB 👉 Listen: https://lnkd.in/eTYNrbcW Sinéad M. Siobhan Morris Dr Olivia Stevenson Sam Balch #structurallyunsound #gender #equalpay #employmentgap #inequality #Intersectionality

The Work and Money Worries report published yesterday reveals a concerning disparity between young men and women when it comes to optimism and support in their careers: - 56% of young women (18-30) feel optimistic about work, compared to 64% of young men. - The same ratio of women to men believe they have the support needed for career progression. - 26% of young women remain in jobs they don't enjoy due to financial limitations, compared to 20% of young men. With women disproportionately affected by the rising cost of living and often feeling isolated when planning their career moves, it's time to push for pay equality and transparency. Read on for more: https://heyor.ca/u8i5JA #GenderEquality #PayEquality #PayTransparency #EqualOpportunities #WorkplaceEquality

When do you start working for free? This neat tool from Fawcett Society helps you identify your personal equal pay day. For me it was 22 December - better than average admittedly. For most it was yesterday (20 November). #JoinFawcett to help address pay inequality. #EqualPayDay

On November 20th, 2024, women stop being paid compared to men. This is the point in the year when, on average, women effectively work for free. The gender pay gap is now 11.3%, up from 10.7% last year. It’s a stark reminder that while progress has been made, gender pay inequality persists - and may be higher than we thought. 💔 Do you know when your personal Equal Pay Day is? For too many women, the answer is far too early. Use our calculator based on new research to see when you effectively stop earning compared to men, based on your age, sector, and working hours. 🔗 Find out here: https://lnkd.in/eXD3jjfP The gender pay gap isn’t just a statistic—it’s a harsh reality affecting livelihoods, futures, and dreams. It’s time to acknowledge the truth and demand change. #EqualPayDay24 #JoinFawcett

Kicking off this Monday with an eye-opening fact: Women often encounter a gender pay gap, earning less than men in very similar positions. According to the DOL blog on the official government website, women working full-time year-round, on average, receive only 83.7% of men's pay. This discrepancy is even more pronounced for Black and Hispanic women. It's an issue that demands serious attention and must be considered in women's financial planning. There are various ways a financial plan can address these disparities. However, the most crucial aspect is awareness of this statistic and collaborating with knowledgeable individuals who understand how to overcome it. Let's work together to ensure fair compensation and financial empowerment for all. #GenderPayGap #FinancialEquality #EmpowerWomen #JPFinancialGroup

It’s equal pay day today. From now until the end of the year, women effectively work for free, due to the gender pay gap, which has INCREASED since last year. The Fawcett Society pay gap calculator (below) can help you work out your individual pay gap and equal pay day. #equalpayday24 #genderpaygap

💷 As of today, women will effectively work for free for the rest of the year compared to their male counterparts. Shockingly, the gender pay gap has actually INCREASED by 0.6% since last year. #EqualPayDay #genderequality

Today was Equal Pay Day. According to the Fawcett Society, this year's Equal Pay Day is two days earlier than previously. This is the day after which the average UK woman stops earning in relation to the average UK man because of inequalities in pay between the average man and the average woman. According to the Scottish Trades Union Congress (STUC), women in Scotland can now expect to earn a "scandalous" £3000 less per year than men as the gender pay gap rose by 30%. The Gender Pay Gap is a blunt instrument - it hides significantly larger gaps for women with disabilities and women of colour, for example. At an organisational level, the Gender Pay Gap expresses how on average the women in an organisation are paid less than the men - maybe there is a predominance of women in lower paid, secretarial roles and men in the C-Suite (stereotypically speaking, of course). At the level of an economy, the Gender Pay Gap is a systemic issue where women tend to work in the sectors that are lower paid (e.g. retail, care, nursing, teaching) and tend not to get the jobs at the top of the hierarchies. This is in large part due to women carrying the lion's share of household, family and caring commitments which mean they need part-time and flexible work and our economy is not yet at the stage where C-suite jobs are routinely offered on these bases. Also, not only do part-time workers work fewer hours, they are paid less on average per hour than full-time workers - a double disadvantage. Part-time workers are overwhelmingly women. And often working beneath their skills and potential just because they needed a part-time role. To tackle the Gender Pay Gap we need to examine why women aren't in senior roles and why they aren't getting promoted. We need greater availability of part-time and flexible roles at all levels of employment. We need to support and equip women to find and negotiate work that works at appropriate remuneration (like we do on Making Work Work). We need a greater availability of affordable childcare so women aren't turning down work because it costs them to take it up. And we need better paternity leave arrangements so dads (where present) can be more involved in their children's lives and a fairer division of household labour. We need to do better for working women and those who want to work!

"Heavily male-dominated industries — such as finance, insurance, science and tech — have the widest gender pay gaps.” While its not a woman’s fault, there are things you can do to advocate for yourself. I am passionate about helping women advisors and related female professionals take matters into their own hands. And also help the financial services industry address this issue. Read this article, get angry then take action. https://lnkd.in/eVnQwhc6 I am here to help: https://lnkd.in/ekzkTfxP #unleashyourtruevalue #breakingmoneysilence #financialadvisors #genderpaygap