Women own less, save less, carry more debt, and are less financially literate than men. That changes now.
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What salary negotiation mistakes can I avoid?
A lot of people think the negotiation starts once you get an offer, but the process actually starts as early as that very first phone screen. If you are getting on a call with a recruiter or hiring manager, make sure that you don't leave that call without asking about compensation. I know sometimes it can be awkward, but you don't want to get far along in an interview process and have no visibility into what the role is paying. The second big mistake is stopping at the base salary when negotiating. Maybe when you’re negotiating the numbers are firm or maybe you're already at the upper limit of what they're willing to pay, but I would say don't just leave it at that. Move on to bonuses — is there any way that you can get a sign-on bonus to really sweeten the offer? Also, ask if equity is on the table. Think about negotiating for a childcare stipend if you’re a working mother. There may be many other ways to grow your total comp.
This interview has been edited and condensed for clarity. You can read an extended version here.
money win
An inside look at how women are building wealth.
“A couple of weeks ago, I was unexpectedly laid off while on maternity leave. Instead of two more months of bonding and taking care of my baby, I would need to start a job search…and that’s when I remembered my emergency fund. I have decided that I will never get this time back with my baby, so being with her will be the priority over finding a new job at the moment, and I can do that all because I have an emergency fund to see my family through over the next few months.”
— Elizabeth L (KY). The cost of building an emergency fund? Time, planning, and learning to budget. Being able to bond with a new baby? Priceless.
Scored a raise, saved up for a big purchase, or reached another money goal? Tell us about it here. Quotes are edited and condensed for clarity.
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investment piece
The items celebs and influencers think are worth the big bucks.
It’s a beautiful thing when a beautiful outfit marries power and purpose. Just ask Dr. Judith Joseph, a board-certified psychiatrist, mental health researcher, and mental health advocate. Below, she shares how investing in a vintage power suit not only boosted her confidence but allowed her to represent important aspects of her heritage.
Tell us about an investment purchase you’ve made.
I bought a vintage Cushnie suit (similar blazer and pants). It’s one of my favorite brands and, sadly, it closed shop during the pandemic. Carly Cushnie is a good friend of mine. Her line was bold, beautiful, and elegant. Earlier this year, in June 2023, I wore this suit to a reception by Vice President Kamala Harris’s office, for Caribbean-American Heritage Month. I was awarded a US Congress Proclamation that day for my mental health advocacy and research. It meant the world to me to wear a design by a Black woman of Caribbean heritage.
How much did you spend on it?
About $500.
Why do you consider it a good investment?
It has a classic cut, and it also carries a deeper meaning beyond its beauty. When people complimented me on the suit, I talked about the relevant historical significance of it being designed by an Afro-Caribbean woman of color. The color of the suit was symbolic on many levels. The red is bold, and color theory tells us that bold, red colors are energizing, motivating, and confidence-boosters. At an important event when there were notable figures in attendance this color made me feel confident and proud. The color is also the same color as the Trinidadian flag.
Answers are edited and condensed for clarity.
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