4 Shocking Statistics About Women, Work & Money

Why is it that women have such a hard time talking about money? I mean you lead your family, tend to your business, run your household. And yet you grow quiet ‒ quiet ‒ with the mention of money.


Money?!


And yes, there are a million reasons why. Maybe it was a forbidden conversation in your childhood home, maybe it’s a cause of stress and anxiety. Heck, maybe it’s been the undoing of a relationship, one you witnessed or one you experienced.



Photo by Karolina Grabowska from Pexels


Ladies, stop feeling less than when it comes to money.


Sure, it's easier said than done. With so many hidden messages. An example? Searching Pexels for an image to include with this article. Options were limited. Very limited. This was by far the best one, a woman holding up, what, maybe $120?!


And yet when searching "men and money," hundreds of images flooded my screen, images with men holding stacks of cash, men in suits standing confidently next to expensive cars, wearing luxury watches.


The "women and money" search resulted in pages and pages of pretty smiles. With almost all of the women seated, taking up as little space as possible, with laptops perched and ready.


Well noted. Well freaking noted.


Without conversations, uncomfortable conversations, this dynamic will continue.


"I hope you will find some way to break the rules and make a little trouble out there. And I also hope that you will choose to make some of that trouble on behalf of women."
– Nora Ephron

Unfortunately, you know that women make less than men. Even in 2021. And women of color? It’s even less still. So much less. For doing the same damn job.


And since it seems to be common knowledge, here are some stats that may be news to you.


4 Startling Statistics About Women, Work, and Money


1. Boston Consulting Group, which surveyed more than 3,000 people in the US and Europe, found that working women currently spend an average of 15 hours a week more on unpaid domestic labor than men. [1]


Wait a minute, did you read that correctly? Women spend 15 more hours each week on 'unpaid domestic labor?' 15 hours?!


Share this stat with your partner, your support system. Talk about it and then talk some more.


2. According to Payscale, women on average reach their peak earnings at age 44. Men keep climbing for much longer and reach their peak earnings at 55. [2]


Okay, okay. How are these numbers even possible? Women's earnings peak at 44??


Ladies, you are worth more. All your knowledge, your experience, your doing. You are definitely worth more.


3. The latest data at Pitchbook showed that venture capital investment in all-female founding teams hit $3.3 billion in 2019, representing 2.8% of capital invested across the entire U.S. startup ecosystem this year. [3]


Am I seeing this correctly? Less than 3% of venture capital dollars went to female teams?


You and I both know there are lots of women out there founding, creating, and scaling their businesses.


4. According to a New York City Department of Consumer Affairs study, products marketed specifically toward women cost on average 7% more than products marketed toward men. [4]


So let's get this straight. Not only do women earn less, work inside the home more, and have far less access to capital for their business ideas.


But to top it off, the things women actually want to buy cost them more. Wow. Just wow. And it’s called ‘pink tax.’ They sure do have a name for it.

Ladies, sisters, gosh do I see you.


I see you working hard, really freaking hard, for your clients, your employer, your community. While your responsibilities at home grow and grow. The cooking, the cleaning. The virtual schooling. The caretaking. The shopping for food, supplies, gifts. All the things.


Dang, it is hard.


“We try to convince ourselves that somehow doing it all is a badge of honor, but for many of us it is a necessity, and we have to be very careful to remember ourselves in the process.”
‒ Michelle Obama

Please remember that you’re human. Even when your circle is calling you superwoman. You’re freaking human. Take a break. Say no. Say no again.


And ask for help.


Maybe it is asking your partner for more help around the house. Maybe it talking to your employer about more flexibility, fewer hours, or for a much-deserved raise. Heck, maybe it’s all of the above.


It’s time to have new conversations. New thoughts. To be aware, and to work toward a better future ‒ whatever that looks like for you.


For the entrepreneurs reading this, maybe it's increasing your rates as you refine your services. Respectfully. And with confidence.


Stand up for yourself and for your well-being. For your mental health.


Before you jump into this new season, with both feet, take a moment to pause. Recognize your efforts and show yourself some appreciation.

If you’re looking for a way to carve out space to reflect, to plan for the upcoming season ‒ instead of just reacting to it ‒ check out All Things Business. It’s my gift, to you, as you reflect and recenter.


And best of all, it's free.


Sources:


[1] https://www.bbc.com/worklife/article/20200630-how-covid-19-is-changing-womens-lives


[2] https://www.payscale.com/data/peak-earnings


[3] https://pitchbook.com/news/articles/the-vc-female-founders-dashboard


[4] https://www1.nyc.gov/assets/dca/downloads/pdf/partners/Study-of-Gender-Pricing-in-NYC.pdf


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