Magazine

Ask Sallie: What Is the Gender Wealth Gap? (Video)

By Sallie Krawcheck

It’s not just about the gender pay gap. It’s also about the gender wealth gap. What’s that? Sallie will tell you.


Sallie’s answer:

Question: What's the gender wealth gap? I'm glad you asked. We hear so much about the gender pay gap, that 82 cents that that elusive average woman earns in comparison to a white man's dollar. We hear much less about the gender wealth gap. If this [gestures] is what she earns, this [gestures] is what she has and what she keeps. It's her bank account. It's her investments. It's real estate if she owns it, from which you subtract how much she owes. Credit card debt, mortgage, student loan debt.

Gender pay gap, 82 cents, moving slowly in the right direction. Gender wealth gap, 32 cents — for Black women, a penny; for brown women, a penny. Moving in the wrong direction. With that movement in the wrong direction picking up, likely due to the pandemic. This is why we founded Ellevest, in order to help move that wealth gap — yes, the pay gap, but the wealth gap — in the right direction.


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Sallie Krawcheck

Sallie Krawcheck is the Co-Founder & CEO of Ellevest. Her life’s mission is to help women to reach their financial and professional goals.