As a woman in corporate America, you will often face gender bias and discrimination in the workplace. Women and girls of color face additional challenges as a result of racism, which makes it even more difficult to succeed in the workplace.
As of today, there are 37 women leading Fortune 500 companies. This represents an increase over the 33 women who led the companies last year. There are only three women of color, none of whom are Black or Latina. Lean In data shows that Black women make up 12% of the minimum wage earners, despite making up only 7% of the total U.S. population. 21% of C-suite leaders are women today, but only 1% are Black women.
Even though CNBC and SurveyMonkey released their Women at Work survey earlier this year, 75% of Black women said they were very ambitious in their careers, with 40% hoping to reach management within five years. Consequently, Black women can expect to face insurmountable barriers that stop them from reaching the top of their careers, regardless of their desire to advance.
Deputy director of communications for Lean In, Rachel E. Cooke, says a woman of color experiences a harder work experience than white women, and Black women are facing a particularly difficult work environment.
Discrimination against racial and gender minorities
When it comes to the obstacles Black women face at work, racism, and sexism play a part in many different ways. Among those ways are microaggressions and insensitive remarks made by peers that make Black women feel like outsiders.
Lack of support for advancement to the top for a woman
Data shows that Black women feel less included in the advancement of their careers due to persistent issues of racism and sexism in the workplace. According to Lean In, only 58 Black women are promoted to manager for every 100 men. Among transgender Black women, 47% reported dismissal, denial of a promotion, or a lack of employment due to their gender identity.
Disclosures
Securities offered through Securities America, Inc., member FINRA (www.finra.org)/SIPC/www.sipc.org), a separate entity. Lee Michael Murphy is licensed with the CaliforniaDepartment of Insurance, License 0H18660. Lee Michael Murphy is an Investment Advisor Representative with Securities America Advisors, a registered investment advisor The Free Retiree, Securities America Advisors, and Securities America Incorporated are separate entities. Career advisor Sergio Patterson, attorney Matt McElroy are not affiliated with Securities America Advisors or Securities America Incorporated. Securities America Advisors, Securities America Incorporated, and its representatives do not provide tax or legal advice; therefore, it is important to coordinate with your tax or legal advisor regarding your specific situation.