Why #38PercentCounts on Black Women’s Equal Pay Day

August 7 marks Black Women’s Equal Pay Day, the day that marks how far Black women have had to work into 2018 to make as much as white males did in 2017. This means that a Black woman would have to work for 19 months and one week to take home what a white male typically earns in 12 months.

To raise awareness of the pay gap and its negative effect on Black women and families, SoFi is proud to partner with Lean In to launch #38PercentCounts. It’s the second of three public awareness efforts this year rooted in the idea that equal pay matters.

The stats speak for themselves: On average, black women are paid 38% less and latinas are paid 46% less than white men. If we close the gender pay gap, on average, black women would earn an estimated $868,000 more in the course of their careers.

As a company that creates a community for ambitious, diverse individuals, we want to set each and everyone of our members up for financial and career success. That’s why we’re partnering with LeanIn.org to highlight the unfairness of the pay gap on Black Women’s Equal Pay Day and every day.

Partnering with LeanIn.org for their Black Women’s Equal Pay Day initiative is a natural fit because both of our organizations are committed to making sure everyone, of every race, is compensated fairly. At SoFi, we’re committed to providing both our employees and our members with the tools and resources they need to reach financial independence.

To learn more about and show your support, visit leanin.org/equalpay.

Photo Credit: LeanIn.Org