The Latina Pay Gap Is Worse Than You Think

Latina women are one of the longest-living yet lowest-earning groups in America. In 2021, those who worked part-time earned 54 cents for every dollar their white male counterparts made. Full-time workers received nominally more––57 cents on the dollar.

Let us spell this out for you: this gap means that Latinas have to work nearly twice as long as white men to make the same amount of money. This gap will end up costing the average Latina nearly $1.2 million over a 40-year career. And at this rate, it will take until 2197 for Latinas to achieve equal pay. Make no mistake––this isn’t a pay gap. It’s a pay chasm.

Disparity across the board

The fact is, the disparity is present for Latinas across the board, regardless of age, educational level or job. Not only does it begin early, but Latinas with a Bachelor’s degree see the worst pay gap in comparison to white men with a college degree. Despite asking for raises and promotions at rates similar to men, only 71 Latinas are promoted to manager for every 100 men who receive a promotion, Lean In’s 2020 data shows. This clearly leads to real barriers in advancement.

To compound matters, approximately 324,000 Latina workers exited the workforce in September 2020 at the height of the pandemic––nearly three times the rate of white women and more than four times the rate of Black women, according to the New York Times. Two years later, the percentage of Latinas not working paid jobs as a result of household responsibilities remained exactly the same. This will, no doubt, have a lasting impact on families and the U.S. economy.

Change is coming

There is change on the horizon, however. The state of California is home to over 15.75 million people claiming Hispanic heritage and, on 1st January, Senate Bill 1162 came into effect. The new law requires companies with 15 or more employees to include salary ranges for job postings. By the end of 2023, one in five Americans will live in a state that requires pay transparency, with similar laws already passed in Colorado, Connecticut and Washington.

“This is a big moment for California workers, especially women and people of color who have long been impacted by systemic inequities that have left them earning far less than their colleagues,” state Senator Monique Limón (D-Goleta), the bill’s author, said in September. “As we continue to build a sustainable economy, we must ensure every worker is paid equitably.”

It is hoped the new law will give more leverage to workers when it comes to negotiating pay. According to the NWLC, women and people of color were more successful in negotiating salary when companies disclosed those pay ranges upfront.

More to be done

It’s certainly a step in the right direction, but clearly more needs to be done. Thankfully, there are also many companies making real progress with diversity and inclusion in their workplaces, particularly when it comes to Latina workers. In September 2022, Latina Style revealed the 50 Best Companies for Latinas to work for in the U.S.

“Selecting the 50 Best Companies for Latinas to Work for in the United States is not an easy task,” shared Robert E Bard, President and CEO of LATINA Style Inc. “Great efforts are taken to ensure that Latinas can truly find the best places where to nurture their careers. Our goal is to provide the most accurate picture of what corporate America has to offer.”

Bank of America, Wells Fargo & Company and Colgate Palmolive all appeared on the list (and in the top 10), and the good news is they’re all currently hiring. Here are three fantastic jobs to apply for, and you can discover more on the The Hill Jobs Board now.

Wealth Management Client Associate, Bank of America, New York

Bank of America is looking for the next generation of Wealth Management Client Associates (WMCA), who will be working with one or more of its 14,000 professional financial advisors to provide service support for its teams and clients. From day one, you’ll receive training from its award-winning Academy at Merrill, including hands-on practice, personalized coaching and dedicated support throughout your on-boarding experience. With demonstrated success, you’ll have the opportunity to advance into new roles, with unlimited opportunity to grow throughout the firm. Sounds like your kind of job? Click through for lots more information.

Profit Formula Client Associate – Private Client Group, Wells Fargo Bank, La Jolla

Wells Fargo is proud of its employee welfare-centered business approach and its commitment to diversity, equity, and inclusion in the workplace. It’s currently looking for a Profit Formula Client Associate to establish and service client accounts, prepare forms, research account inquiries and/or issues, and execute various administrative functions. If you’re somewhat new to the industry, with two-plus years of brokerage and client services experience (or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, or education), and you’re ready to take your experience to the next level and join Wells Fargo, then this could be the role for you. You can apply for this job here.

Business Process Analyst, Colgate-Palmolive, Piscataway, New Jersey

Colgate-Palmolive invites you to apply for the position of Business Process Analyst – Finance in its Company Global Information Technology (GIT) Organization. This role is in the Global Application and Americas Organization across North America, Latin America and Hill’s Pet Nutrition. The successful applicant must be able to apply conceptual knowledge of finance to implement solutions that satisfy all business requirements and engage with business leadership and key users at the global, divisional and regional level. You can read all about this great opportunity here.

To explore even more open job opportunities at thousands of companies across the country, start browsing The Hill Jobs Board today