Gender Pay Gap: Why women need to start talking about their salary

We all know when it comes to family gatherings and dinner parties, there are certain conversations we can’t talk about. Even before you’re old enough to truly understand either one, you know not to talk money or politics in polite company. This negative conditioning on money conversations is nearly universal, but that doesn’t mean it’s equal among boys and girls. In fact, young girls are more likely to be taught about budgeting and saving, while boys are likely to be taught about investing. Even into adulthood, women are more likely to be talked to as “excessive spenders.”

Though we all feel a little uncomfortable asking a coworker what they make, or talking about money with friends, in the end, women are much less confident than men when it comes to discussing finances. Only 30% of women have asked for a raise in their lifetimes, and 61% of women would rather talk about death than money.

Staying silent when it comes to money can have major implications, especially for women. The social norms around money tend to make women more hesitant to talk about finances than men. Over time this results in a huge financial literacy and confidence gap among women who then invest less, ask for raises less, and stay uninvolved in their own finances. 

Though there are a large number of factors that drive income inequality and the wage gap, one thing’s for sure — women can’t afford to stay quiet about money any more. 

Check out the infographic below by Turbo for some ways to beat the salary silence.

Infographic: Why do not women talk about money? Here are 8 ways to shatter the salary silence.

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