Women’s Day: It's still a man's world when it comes to money
Updated: • 3 min read
No matter how much we talk about feminism or equality on the International Women's Day, the fact remains that this is still a man's world. Especially, when we are talking about financial power in the US. Women earn significantly less than men in almost every state of the country. On an average, women earn $10,291 less than men in all the states of the country. As per the Census Bureau, women were paid 78 percent of what men made in 2013. And, as per the July report from Oxfam, it'll take another 75 years for women to reduce the income inequality.
The biggest stress factor for women is money
You're wrong. The number one stress factor for women is not men. The biggest stress factor for women these days is money. They worry more about financial woes than men. In fact, 51% women spend sleepless nights due to financial problems at night. But only 32 percent men have problems to sleep due to money. Again, 32% of adults are unable to lead a normal and healthy life due to pressing financial needs. But 12% of these people don't even consult a doctor due to financial worries.
Top financial woes for women
- Sudden expenditures
- Paying for the necessary items
- Building a retirement savings fund
Top 10 states with biggest pay gap
| Louisiana | $16,453 |
| Wyoming | $15,879 |
| Utah | $15,144 |
| North Dakota | $14,682 |
| West Virginia | $13,754 |
| Connecticut | $13,367 |
| Alaska | $13,289 |
| Michigan | $12,191 |
| New Jersey | $12,175 |
| Indiana | $12,120 |
Top 5 states with least pay gap
| Washington DC | $5,850 |
| Florida | $6,390 |
| Nevada | $7,125 |
| Tennessee | $7,192 |
| North Carolina | $7,229 |
Richest person in most states is still a man
Perhaps, the most interesting feature of the pay gap is:
Richest person in most states is a man. And the combined wealth of richest persons in each state is $676.29 billion dollars. On the other hand, the total wealth of richest women is $365.75 billion dollars.
Top 10 richest men in the country by state
| Bill Gates | $81.8B |
| Warren Buffett | $72.7B |
| Lawrence Ellison | $52.5B |
| David Koch | $42.8B |
| Charles Koch | $42.8B |
| Sheldon Adelson | $31.5B |
| Phil Knight | $22.6B |
| Charles Ergen | $19.9B |
| Raymond Dalio | $15.2B |
| Jack C Taylor | $15.1B |
Top 11 richest women in the country by state
| Astrid Menks | $66.1B |
| Christy Walton | $41.6B |
| Alice Walton | $39.3B |
| Elizabeth Koch | $36B |
| Jacqueline Mars | $20B |
| Anne Cox Chambers | $16.6B |
| Penelope Knight | $16.3B |
| Laurene Powell Jobs | $15.6B |
| Abigail Johnson | $13.7B |
| Jan Cohen | $11.2B |
| Susan Marley Newhouse | $8.2B |
* There are only 9 states where women are the richest persons in the country.
3 Tips how women should use to ask for more money at job
It's high time women take their career seriously and plan their finances properly. And, when they're working as hard as men, they should be reimbursed equally. A lot of women find it intimidating to start a money conversation. Time has come when they should learn the tricks to negotiate salaries and promotions. Otherwise, the gender pay gap will not minimize in the next 100 years or so.
- Don't hesitate to negotiate even if it is your first job. You should demand what you're worth of.
- Negotiate when your employer is at his best mood.
- Consider it as your responsibility to negotiate salary when you're not happy with it.
This is a little drastic step. If you're unsatisfied with your salary, then start looking for another job with a better payscale. Once you get a job, put down your papers immediately. Your present employer may give you a hike instantly.
