Business and Finance
Black woman’s boss told her her ‘eloquence and smarts’ made her ‘intimidating’ and ineligible for promotion, she says
CHICAGO (AP) – Not even education can close the wage gap that persists between women and men, in keeping with a recent U.S. Census report.
Census research shows that whether women complete post-secondary education or graduate from a top university, they still earn about 71 cents on the dollar in comparison with men at the identical level of education.
This difference becomes starkly visible on Equal Pay Day and despite the undeniable fact that women make up greater than half of college-educated staff and are participating within the labor market at record rates.
Instead of comparing men working full-time with women working full-time, the Feb. 22 Census report contrasts men and women with the identical education: graduates of certificate programs and individuals with bachelor’s degrees from probably the most selective universities, the economist explained. Kendall Houghton, co-author of the study. The report also takes under consideration graduates who could have given up work, e.g. women taking good care of children.
“The bottom line is that there is a significant gap at every level,” added census economist and co-author Ariel Binder.
Major, profession alternative, and hours account for most, but not all, of the variance. For example, field of study contributed far more to the pay gap for top graduates (24.6%), but for less selective degree holders they accounted for only a small proportion (3.8%). The variety of hours and weeks worked contributes more to the wage gap for certificate holders (26.4%) than for chosen bachelor’s degree holders (11.3%), suggesting that there’s a larger gender gap in work participation for certificate holders , Binder said.
At the identical time, about 31% of the differences at each level of education remain unexplained, suggesting that aspects which can be tougher to measure, reminiscent of gender stereotypes and discrimination, could also be at play.
Chantel Adams says she’s not surprised that the gender pay gap persists even amongst men and women with the identical level and quality of education, or that the gap is larger for black and Latina women.
Adams, a senior marketing executive with an MBA from the University of North Carolina’s Kenan-Flagler Business School, said her qualifications weren’t enough to beat the adversity she faced in her profession as a black woman.
Despite taking up additional responsibilities and undeniably performing well, Adams stated that she was denied a promotion because she was told that “I was so articulate and smart that it scared some people.”
“I have almost $300,000 for post-secondary education. It would be surprising if I wasn’t articulate and smart,” said Adams, who lives in Durham, North Carolina.
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She said her colleagues at the corporate – one in all whom didn’t have an MBA – were promoted while she was held back two years in a row.
“It’s unreasonable and unfair to call someone out on their strengths,” Adams said. “I would consider it something that was racially motivated.”
According to Carolina Aragao, who studies social and demographic trends on the Pew Research Center, young women are generally closer to pay parity with younger men. However, the difference increases between the ages of 35 and 44, which coincides with the period when women most frequently resolve to have a toddler at home.
“It doesn’t work the same way for men,” Aragao said, adding that there’s actually an opposite phenomenon often called the fatherhood premium, where fathers are likely to earn greater than other staff, including men without children at home .
Aragao said that despite huge gains within the number of ladies in leadership positions and in high-earning industries, improving the pay gap has stalled for about 20 years. Unequal childcare and household responsibilities, falling college premiums and overrepresentation in lower-paid jobs are all aspects contributing to persistent pay gaps.
For Adams, the perfect technique to overcome these problems was to always change jobs – in her case six times in 10 years, in multiple states.
“I knew I had to be intentional and act with urgency in navigating my career to face this headwind,” she said. “When one company didn’t provide me with those opportunities, I went to another company.”
Adams said profession coaching, mentoring and support from the Forte Foundation, a nonprofit organization focused on the advancement of ladies, have played a key role in her success, while pay transparency laws – and even pay transparency in social circles – may help alleviate the numerous challenges related to the pay gap for women of color.
But corporate diversity initiatives have been the topic of an increasing variety of lawsuits for the reason that Supreme Court struck down affirmative motion in college admissions. Adams said she fears that without affirmative motion, racial diversity in businesses could also decline.
“The big question hanging over my head, and over probably many other executive leaders, is: How does this impact the pipeline of diverse candidates that we may or may not have in 10 years?” Adams said.
Business and Finance
David Shands and Donni Wiggins host the “My First Million” conference at ATL
December is the birth month of David Shands and Donnie Wiggins, friends and business partners. Most people have fun by throwing a celebration. Others imagine it must be catered for. The chosen ones spend the day relaxing in peace and quiet.
Then there’s Shands and Wiggins.
The two decided that the best birthday gift can be to offer individuals with resources for generational wealth through a conference called “My first million”in Atlanta.
It’s a compromise between how their families and family members need to honor them and their desire to proceed to serve others. Shands acknowledges that almost all people won’t understand, and he unapologetically doesn’t expect them to.
“It’s not up to us to convince anyone why we do what we do,” admits Shands.
“I think everyone does what they do for different reasons, and I would just attribute it to a sense of accomplishment that I can’t explain to anyone else.”
He doesn’t need to clarify this to Wiggins because she understands his feelings. Wiggins has had a passion for serving others for so long as she will be able to remember.
“When I was in middle school, there were child sponsorship ads on TV featuring children from third world countries. I was earning money at the time and I asked my mother to send money,” she says BLACK ENTERPRISES.
She recalls how sad she felt for youngsters living in a world with so many opportunities, but at the same time going hungry. Her mother allowed her to send money, and in return she received letters informing her of their progress.
“It was very real to me,” Wiggins says, now admitting she’s undecided the letters were authentic. “I received a letter from the child I sponsored, a photograph and some updates throughout the 12 months. It was such a sense of being overwhelmed and it was something I felt so good about. I didn’t even tell my friends I used to be doing it.”
She carried this sense throughout her life, even when she lost every little thing, including her house, cars, and money. She still found ways to serve and give back, which is the basis of her friendship with Shands.
They each love seeing people at the peak of their potential, and that is what “My First Million” is all about. There can be no higher birthday gift for them than helping others create generational wealth.
What to expect during the “My First Million” conference.
They each built successful seven-figure empires, then train others, write books about it, and launch an acclaimed podcast Social proof.
Now they’re imparting that knowledge through the My First Million conference, an event for aspiring and existing entrepreneurs. Shands and Wiggins need to prove that being profitable is feasible and encourage people to bet on themselves.
“David and I, on paper, are not two people who should have made millions of dollars. Number one, we want (people) to see it,” Wiggins says. “Then we want them to actually get out of that room with practical and actionable steps.”
Both are clear: this just isn’t a motivational conference. This is a conference where people, irrespective of where they’re of their journey, will come away with clarity about their business and what they must be doing as CEOs. Shands and Wiggins want individuals who do not have a transparent marketing strategy or are considering starting a business to also attend the meeting.
“A few areas we will cover are inspiration, information, plan and partnership,” adds Shands. “We will give you 1-2-3 steps because some people get depressed and uninspired. Even if they know what to do, they won’t leave, go home and do it. So we have to really put something into their heads and hearts that they come away with.”
Sign up and enroll for My First Million Here. The conference will happen on December 13 this 12 months. but Shands and Wiggins say it definitely won’t be the last for those who miss it.
Business and Finance
Operation HOPE on the occasion of the 10th annual world forum
Operation HOPE Inc. takes over Atlanta for the biggest game in the country dedicated to financial literacy and economic empowerment, Saporta reports.
The HOPE Global Forums (HGF) Annual Meeting 2024 strengthens the crucial link between financial education, innovation and community upliftment in hopes of finding solutions to the problems that stifle challenges around the world.
Organized by Operation HOPE founder John Hope Bryant, together with co-chairs Atlanta Mayor Andre Dickens and U.S. Ambassador Andrew Young, the forums, to be held December Sep 11 at the Signia Hotel, will have fun its 10th anniversary with three days of engagement discussions, observations and forward-looking presentations.
Under the theme “The Future,” Hope Bryant says attendees are looking forward to a “powerful moment in history.”
“Over the past decade, we’ve brought together great minds with daring ideas, servant leaders with voices for change, and other people committed to a brand new vision of the world as we realize it. “‘The Future’ is a clear call to action for leaders to help ensure prosperity in every corner of society,” he said.
The extensive program includes influential and well-known speakers who address business, philanthropy, government and civil society. Confirmed speakers include White House correspondent Francesca Chambers, media specialist Van Jones and BET Media Group president and CEO Scott M. Mills.
“John Hope Bryant and his team have been doing this for ten years, and every year HGF raises the bar,” Young said. “Discussions about the FUTURE are important not only for civil dialogue; they are also essential to bridging the economic divide and solving some of today’s most important problems.”
Atlanta is predicted to welcome greater than 5,200 delegates representing greater than 40 countries.
“I have long said that Atlanta is a group project, and through our partnership with HOPE Global Forums, we are inviting the world to join the conversation,” Dickens mentioned. “From home ownership and entrepreneurship to youth engagement and financial education, HGF will offer bold and innovative ideas to ensure a bright future for all.”
It coincided with the organization’s annual meeting launched one other path to enhance financial knowledge with HOPE scholarships. With three tiers of scholarships – HOPE Lite, HOPE Classic and HOPE Silver – clients could have access to free financial coaching and academic resources.
Business and Finance
New Orleans’ black business district is marked by history
New Orleans has given a historic monument to a Black business district closed for interstate construction.
The marker was a project fulfilled by in response to the initiative of Plessy and Ferguson. Founded by descendants of men involved within the Plessy v. Ferguson case that legalized segregation within the United States, the organization worked with other community groups to put a marker under the Claiborne Viaduct.
Before the upheaval, Black New Orleanians could find stores owned by other members of their community on Claiborne Avenue. Racial discrimination originally limited the power to buy on the famous Canal Street. Given this, blacks as an alternative flocked to the realm to purchase every little thing from groceries to funeral arrangements.
This mall was home to many Black-owned businesses, and emerging and established entrepreneurs had arrange shop for generations. Consisting of pharmacies, theaters, studios and more, it helped maintain a vibrant black culture in the realm. It reigned because the most important street of Black New Orleans from the 1830s to the Seventies.
The street once featured a picturesque cover of oak trees surrounding bustling businesses. However, its decline began with the expansion of roads within the southern state. The first casualty was the oak trees that were cut all the way down to make way for the development of Interstate 10, and shortly thereafter, the district’s thriving entrepreneurs suffered an identical fate.
Many residents do not forget that they didn’t know in regards to the upcoming investment until the trees began falling. Raynard Sanders, a historian and executive director of the Claiborne Avenue History Project, remembered the “devastation” felt by the community.
“It was devastation for those of us who were here,” Sanders told the news outlet. “I was walking to school and they were cutting down oak trees. We had no warning.”
Despite its eventual decline, the district stays an integral a part of Black New Orleans entrepreneurship. Now the town will physically resemble a historic center where Black business owners could thrive. They celebrated the revealing of the statue in true New Orleans style with a second line that danced down Claiborne Avenue.
“The significance of this sign is to commemorate the businesses, beautiful trees and beautiful people that thrived in this area before the bridge was built, and to save the people who still stand proud and gather under the bridge,” also said Keith Plessy, a descendant of Homer Plessy’ ego.
The growth of local black businesses continues. Patrons and owners alike hope to evoke the spirit of Claiborne’s original entrepreneurs, empowering the community.
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