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The wealth gap facing women is one of the worst kept secrets in business. Whether it’s the amount we get paid, the number of us represented in senior management, or the benefits we typically receive, women tend to owe more and own less compared with our male counterparts. And the gap facing women of color is even wider.
There are a number of reasons women face a persistent racial wealth gap. As a McKinsey study recently found, Black women are more likely to carry debt than men and often don’t earn enough to pay down those debts – effectively earning 65 cents for every dollar the median white man earns. The report also found that Black women are effectively segregated into …