Racial and Gender Wealth Gaps Are Not a Partisan Issue

Last week I had the privilege of speaking to the Federal Reserve Board of Governors on the topic of gender equity. I joined some very impressive women leading important organizations doing terrific work: Kate Bahn, Director of Labor Market Policy and Interim Chief Economist for the Washington Center for Equitable Growth; Anne Price, President of the Insight Center for Community Economic Development; and Virginia W. Harris, President of the National Coalition of 100 Black Women, Inc.

As the representative of for-profit organizations — specifically the financial services industry — I was there to discuss how for-profit companies are (and aren’t) driving greater financial inclusion for women. While the industry has improved its diversity programs, a number of firms continue to fight gender discrimination suits. Also? Their “women’s initiatives” tend to be more about performative marketing and much lighter on the actual “building offerings for women” part. (Except for … *cough cough* … Ellevest.)

So why is this a topic of interest to the Federal Reserve? And why does it matter?

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CO-FOUNDER & CEO

Are you considering leaving your current job?

Work. At the moment, it’s an emotionally charged topic. The Great Resignation is underway, with 7.5 million employees having called it quits in April and May. On Instagram, we asked, are you considering a change? Here’s what you said:

READY TO WALK

52%


STAYING PUT		48%

“I don’t plan on ever going back [to the office]! I was able to move out of state while keeping my job — it was great for my wife, who is a nurse, because she had the freedom to apply to hospitals all over the country without worrying about my work wherever we ended up. I’m so grateful for WFH!”

– Elle Raiser @where_youre_planted on how they feel about going back to the office vs staying remote. 💻

A Venn diagram featuring two coins with an exclamation point at the intersection. Collage.

Let’s reframe negotiations

Psst: Salary isn’t the only thing you can negotiate. Get those WFH days, too. Sign up for our negotiation workshop and find out how.

GO GET IT >

Tweet from Alli Pinter that reads, “Hi friends. I officially accepted an offer somewhere that I’m really excited about. It really feels too good to be true. For whoever needs to hear this: quit that toxic job that’s holding you back. Bet on yourself. I promise there’s always something better out there.”

What we’re clicking on

•	Leave it to MIT — a living wage calculator that will tell you how much money a single person needs to earn to get by in every state.
•	Watch Kareemah Batts, founder of Adaptive Climbing Group, demonstrate her non-profit’s anthem: “We are climbers first, disabled second.” 💖
•	Proof mid-career professionals who’ve taken a break are really really valuable employees.
•	“The venture capital industry historically ignored start-ups focused on women’s health, dubbing the space too small to make meaningful dollars. Maven Clinic proved those detractors wrong.”
•	On repeat: A little joy from Joy. 🎶

Picture this: you, investing in yourself, growing with the support of a coach (and up to 50% off all sessions).

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This week’s newsletter was brought to you while scouting the Tokyo 2020 Paralympics schedule. Forward it to your friends who love sports. 💜

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DISCLOSURES

All opinions and views expressed by Ellevest are current as of the date of this writing, for informational purposes only, and do not constitute or imply an endorsement of any third party’s products or services.

Information was obtained from third-party sources, which we believe to be reliable but not guaranteed for accuracy or completeness.

The information provided should not be relied upon as investment advice or recommendations, does not constitute a solicitation to buy or sell securities and should not be considered specific legal, investment or tax advice.

The information provided does not take into account the specific objectives, financial situation, or particular needs of any specific person.

Investing entails risk, including the possible loss of principal, and there is no assurance that the investment will provide positive performance over any period of time.

Banking products and services are provided by Coastal Community Bank (“Coastal”), Member FDIC, pursuant to license by Mastercard International. Your Ellevest Spend and Ellevest Save Account deposits will be insured to the regulatory limits by the FDIC through Coastal Community Bank, Member FDIC.

Funds held in your Ellevest investment accounts are not FDIC insured, not guaranteed by Coastal, and may lose value. Ellevest does not guarantee investment performance.

Ellevest Membership fees are as follows: Ellevest Essential is $1 per month, Ellevest Plus is $5 per month, and Ellevest Executive is $9. Other fees as described in Ellevest’s Wrap Fee Program Brochure and the Ellevest Membership Terms and Conditions Agreement will continue to apply.

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🤞Opinionated: Fingers Crossed on This Momentum

Racial and Gender Wealth Gaps Are Not a Partisan Issue

Are you considering leaving your current job?

Let’s reframe negotiations

What we’re clicking on

Picture this: you, investing in yourself, growing with the support of a coach (and up to 50% off all sessions).

This week’s newsletter was brought to you while scouting the Tokyo 2020 Paralympics schedule. Forward it to your friends who love sports. 💜

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💗 Opinionated: Are You Overwhelmed Right Now?

📅 What Will You Learn This Week?

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💰Opinionated: How Much Does Women’s Free Work Cost Us?

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