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economic equality

How NYC Wage Transparency Law is a major step to close the gender wage gap  

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The NYC Salary Transparency Bill has been signed into law, a significant victory for workers’ rights and economic equality. 

On January 15, 2022, NYC took another step toward economic equality when NYC Int. 1208 became law. This law now requires all employers to include the minimum and maximum salaries in job postings for any position located within NYC. Under the NYC Salary Transparency law, it will now be an unlawful discriminatory practice not to include the salary range on job postings. 

This win marks another success in PowHerNY’s Equal Pay Campaign to address and close the gender and racial wage gap that has robbed workers and families of wages and perpetuated cycles of poverty and economic insecurity. 

Gender and racial discrimination in worker salaries have prevented many women and minority groups from advancing in their careers and attaining economic security. Currently, women of color in NYC—including Latinas—still earn between 55 and 65 cents compared to white, non-Hispanic men. The anti-discriminatory policy of the NYC Salary Transparency law aims to address this gender and racial wage gap that continues to persist today. 

Assemblywoman Latoya Joyner. (Photo source)

“Changing the culture at so many workplaces, New York City’s salary range disclosure law will make sure that workers benefit from greater transparency when it comes to wages and benefits,” Assemblywoman Latoya Joyner (D-Bronx, 77th AD), chair of the Assembly Labor Committee said. “When employers provide much-needed clarity to pay structures and make that information available to employees and job seekers, companies are encouraged to update antiquated practices that have led to patterns of wage discrimination.” 

The law, sponsored by outgoing Councilmember Helen Rosenthal, which takes effect in 120 days, will provide job seekers with the information needed to negotiate fairer salaries and help businesses efficiently hire and retain the best talent that matches their needs. In the current tight job market, this new law positions New York City as a leader in an equitable recovery from the Covid-19 pandemic. 

“This new law brings women one step closer to reaching pay equity in their search for employment,” said CWA Local 1180 President Gloria Middleton. “Women traditionally have accepted jobs for far lower salaries than men because they did not know how to value their worth during a job interview. By requiring job postings to include both the minimum and maximum salaries, women will no longer have to sell themselves short to get a job; they will be on a level playing field with men.”

“This transformative law will minimize bias, maximize transparency, shift cultural norms and level the “paying” field,” said Beverly Neufeld, President of PowHer New York. “Because all workers across the state need and deserve this proactive solution to ending wage discrimination.”

PowHerNY advocates and vows to fight for continued reforms, including an NYS Salary Range law, to combat historic disparities in opportunities and pay. 

Latinas Equal Pay Day, gender wage gap

Latinas are among the most adversely affected by the gender pay gap. They are paid just 55 cents for every dollar earned by white, non-Hispanic men. (Source: latinaequalpay.org)

You might be interested: It will take two centuries for the gender wage gap to close for Latinas if we do nothing

About PowHerNY 

PowHerNY is an inclusive statewide network of individuals and organizations committed to accelerating and securing economic equality for all New York women. 

PowHerNY aims to amplify the efforts already in full swing around New York State, like the Time to Care campaign and the Women’s Equality Agenda, and take the lead on issues where good work needs to be done. They are committed to informing the community in real-time through social media, sharing resources, opportunities, and conversations with leaders. 

Focusing on key areas for advancement and equality, PowHer stands for: 

Poverty Solutions

Opportunity and Access

Workplace Fairness

Healthy Lives

Equal Pay

Representation at all Tables

What you can do now to help further equal pay efforts

Interested in getting involved with PowHerNY to help further the cause for economic equality? 

2021 Latinas in Business highlights

2021 Latinas in Business highlights and most-read articles 

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Our 2021 Latinas in Business Highlights and Most Read Articles are here!

Another year comes to an end and we close another chapter. Before we jump into the new year, first let us take a look back at some 2021 highlights and reflect on the stories we have shared here. 

Throughout everything, we as a community have risen to challenges and collaborated together to uplift each other throughout pandemic hardships.

Each year we strive to set the bar higher and this year was no different here at Latinas in Business Inc. We are so blessed and honored to have such an amazing community of readers, supporters, and collaborators. We thank you so much! Gracias! 

Now, here are the 2021 Latinas in Business highlights and most-read articles on LatinasinBusiness.us, our dedicated editorial platform that promotes and empowers Latinas and other minority women entrepreneurs.

2021 Latinas in Business most-read articles 

Latinas Equal Pay Day, gender wage gap

Latinas are among the most adversely affected by the gender pay gap. They are paid just 55 cents for every dollar earned by white, non-Hispanic men. (Source: latinaequalpay.org)

In March, we celebrated Equal Pay Day and learned that the gender wage gap for Latinas may take more than two centuries to close if we continue to do nothing.

Women working full-time, year-round are typically paid just 82 cents for every dollar paid to men. That is just the statistic for women in general, but the gender wage gap is much wider for minority women, especially Latinas who only make 55 cents for every dollar earned by white, non-Hispanic men. To put it another way, a Latina woman must work 23 months to earn what white men earn in just 12 months.

To learn more about the wage gap for Latinas and what we can do to close the wage gap, see our full article.

Later the year, Key Insights from the 2020 State of Latino Entrepreneurship Report showed us how Latino entrepreneurs are succeeding and advancing, and also where we can work to improve.

According to the report, released by Stanford Graduate School of Business in collaboration with the Latino Business Action Network,  Latino-owned businesses are becoming the fastest-growing segment of the U.S. small business ecosystem.

Additionally, the number of Latino-owned businesses has grown 34% over the last 10 years compared to just 1% for all other small businesses. Were it not for the growth in the number of Latino-owned firms, the total number of small businesses in the U.S. would actually have declined between 2007 and 2012.

We also learned that Latina-led companies have struggled the most during the pandemic, experiencing more closures and lay-offs compared to Latino-led companies (30% versus 16%). See here to read the full report.

translation services, Unida Translation

Ivana and the Unida team.

This year readers enjoyed learning how Ivana Sedia is working to help connect people and transcend borders through her language translation service, Unida Translation. Her company delivers both spoken and written word translation services in over 125 languages for projects in the certified, legal, government, medical, and technical fields.

Ivana’s business grew out of a hobby and passion for translation and language learning. With experience with writing in Spanish and English and working for the government by assisting non-English speaking immigrants, an MBA in management, and a Bachelor of Arts in Communications, International Relations and Diplomacy with a minor in Italian, Ivana taught Spanish and Italian lessons. She then decided to use her language skills to help transcend borders for businesses and organizations in need of translation services.

Read her full story here!

Latina researcher and founder of Stratified Insights, Dr. Marlene Orozco, shares the importance of data in demystifying misconceptions about Latinas.

In July, Latina researcher, Dr. Marlene Orozco shared the importance of data in demystifying misconceptions and biases about Latinas.

As mixed methods researcher by training, Marlene has over 250 hours of in-depth interview experience and quantitative expertise in big data.

Throughout her years of education training in the field of research, Marlene has used her research as a tool to make a real-world impact, especially for minority small business owners and entrepreneurs. Her research is guided by her passion for education and economic equity and exploring pathways of mobility for immigrants, women, and entrepreneurs from underrepresented backgrounds.

Latinas are often misrepresented, undervalued, and unappreciated in the professional world. These unfair biases have an impact on the rate of success for Latinas and other minority groups. Through hard data, showing the successes of Latina women in the professional world, Marlene is working to end these biases and misconceptions. Learn more here! 

Jennifer Garcia, founder of Fluential Leadership. (Photo courtesy Jennifer Garcia)

Finally, readers were eager to learn from Jennifer Garcia’s inspiring story where she shared how she left her secure job to launch her dream business.

A multi-faceted business professional and leadership coach with a passion for empowering people and transforming businesses, Jennifer founded Fluential Leadership, a business and leadership consulting firm focused on elevating small-to-medium-sized business performance through developing and executing growth strategies, recruitment, and retaining talent.

Like many entrepreneurs, Jennifer was driven to start her own business out of a desire to pursue her passion and make an impact. For fourteen years, Jennifer worked in the finance industry and in a variety of leadership roles at Bloomberg, a global financial data provider. However, she wanted to make a greater impact and use her expertise as a leader and consulting coach to help others achieve their own career goals and dreams.

Following her dream, Jennifer launched her company, stepping into the unknown leaving the comfort, certainty, and stability of her career. Continue reading about her full journey into entrepreneurship here.

THRIVE! 2021 Women Entrepreneurs Empowerment Summit highlights 

Another huge 2021 Latinas in Business highlight for us was our annual empowerment event. Entrepreneurs, business owners, and industry leaders gathered in June to THRIVE! for the third annual Women Entrepreneurs Empowerment Summit, a unique conference that year after year gathers successful Latinas and other minority women entrepreneurs to Learn. Connect. Succeed!   

Latinas in Business Inc. CEO and President Susana G. Baumann with board members.

This year, the summit focused on key areas of growth to connect and empower women business owners with tools and insights to propel them forward in the wake of the COVID-19 pandemic so they can grow their businesses to the next level. 

This amazing event featured stellar guest speakers, inspiring panels with industry leaders, and motivating deep-dive workshops and group discussions that connected and inspired Latina and other minority women entrepreneurs, empowering them to take the next step in achieving their business goals and turn their dreams into actionable business plans. 

We ended the 2021 Women Entrepreneurs Empowerment Summit with the Latina Leaders Award Ceremony, broadcasted live from New York City. It was a beautiful and touching moment where we saw 12 influential Latina Leaders from the past year honored for their success as entrepreneurs and community leaders. 

Assemblymember Rodneyse Bichotte Hermelyn alongside Daneida Polanco of Univision.

The stunning Daneida Polanco of Univision presented the awards alongside Latinas in Business’s CEO and President, Susana G Baumann in a heartwarming ceremony that gathered and celebrated not only our Latina Leaders but Latina entrepreneurs everywhere. 

The 2021 Women Entrepreneurs Empowerment Summit was certainly a night to remember and we cannot wait for the events to come in the new year! 

Thank You! 

Looking back on our 2021 Latinas in Business highlights and most read articles reminds us of what an amazing and inspiring community we have here. Once again, we are so very grateful for all the support from sponsors, hosts, supporters, collaborators, and reades that allowed us to continue our mission to advocate for the economic empowerment of Latinas and other minority women entrepreneurs.

Thanks for your support and Happy Holidays to all from us! See you in the New Year!

Latinas in Business Inc. Team

Woman photo created by freepik - www.freepik.com'>equal pay day, gender wage gap

It will take two centuries for the gender wage gap to close for Latinas if we do nothing

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March 24 marked Equal Pay Day for all women. The day was officially established in 1996 by the National Committee on Pay Equity (NCPE) as a symbolic representation of how far into this year women must work to catch up to what men made in the previous year. Women working full-time, year-round are typically paid just 82 cents for every dollar paid to men. That is just the statistic for women in general, but the gender wage gap is much wider for minority women, especially Latinas. 

Equal Pay Day

Women’s Equal Pay Day marks the day into the year on which it takes for women on average to earn what men did in 2020. (Source: equalpaytoday.org)

The gender wage gap for Latinas in the U.S. 

For Latina women in the U.S., Equal Pay Day is not until October 21 this year, meaning it will take until October 2021 for Latinas to have earned the same amount as white men did in 2020. To put it another way, a Latina woman must work 23 months to earn what white men earn in just 12 months. 

Latinas account for close to $1 trillion in US buying power, but earn on average only 55 cents to the dollar paid to white, non-hispanic men. Additionally, the pay gap widens for educated Latinas. Latinas are pursuing higher education more than ever before but education does not eliminate the pay gap. In fact, the gap is largest for Latinas with a bachelor’s degree, who earn 37% less than white men on average. 

Latinas Equal Pay Day, gender wage gap

Latinas are among the most adversely affected by the gender pay gap. They are paid just 55 cents for every dollar earned by white, non-Hispanic men. (Source: latinaequalpay.org)

All around, Latinas tend to make less than everyone, with Latina Equal Pay Day being the last Equal Pay Day group celebrated each year.

If the gender pay gap does not improve, Latinx women have a lot to lose: $28,036 every year, and $1,121,440 over the course of a 40-year career. To catch up, Latinas in New Jersey and California would have to work until ages 115 and 114 respectively.

In twelve states – Alabama, California, Connecticut, Georgia, Illinois, Maryland, New Jersey, North Carolina, Rhode Island, Texas, Utah, and Washington – Latinas lose more to the wage gap than they are paid in a year.

You might be interested: How Latinas Equal Pay Day 47 percent pay gap hurts big business

The states with the largest lifetime losses due to the wage gap include California ($1,708,160), Connecticut ($1,499,800), Illinois ($1,261,040), Maryland ($1,554,400), Massachusetts ($1,369,000), New Jersey ($1,760,840), Rhode Island ($1,196,360), Texas ($1,389,800), Washington ($1,300, 960), and Washington, D.C. ($1,953,000).

Closing the gap for an equal future 

The gender wage gap has narrowed slightly over time but only by a few pennies over several decades. Currently the average pay for women in general is 82 cents per dollar earned by a man. A decade ago in 2011, that number was 77 cents, and in 1996 when the first Equal Pay Day was established, the number was around 74 cents. If this trend continues, the wage gap will not close for another 38 years or until around 2059.

For Black women the date is over a century away. And for Hispanic women it will be over two centuries before the wage gap closes if we do nothing to change the trend. 

gender wage gap, Latina Equal Pay Day

Join leaders, advocates and influencers across the nation who are pledging to take action as champions of gender parity. (Source: latinaequalpay.org)

The first steps to closing the wage gap is to push for legislative action. The Paycheck Fairness Act is just one of many acts that will take important steps towards the goal of ending pay discrimination. For instance, it will ban employers from seeking salary history — removing a common false justification for under-paying women and people of color — and it will hold employers accountable who engage in systemic discrimination.  The bill will also work to ensure transparency and reporting of disparities in wages, because the problem will never be fixed if workers are kept in the dark about the fact that they are not being paid fairly.  

Raise the Wage Act is another legislative measure that will help close the wage gap in the long run. The Raise the Wage Act of 2021 would increase the minimum wage annually from its current level ($7.25) to $15 by 2025, after which the minimum wage would be indexed to median hourly wage growth. With Latinas overrepresented in low-wage work, the Raise the Wage Act would give 32% of working Latinas a significant raise. 

Resources for more information and further learning on the gender wage gap: 

https://www.latinaequalpay.org/ 

https://www.pay-equity.org/index.html

http://www.equalpaytoday.org/overview-2021