Gender Pay Gap: Impact on Business & Society

The upcoming Global Inclusive Growth Summit is scheduled for April 18, 2024, marking a return to both in-person and virtual gatherings. Reflecting on the success of the 2023 event, jointly hosted by Mastercard and the Aspen Institute, we highlight its pivotal moments. The summit convened influential figures from the private sector, social impact sector, and government, fostering discussions on methods to enhance economic equity. 

Set to be hosted by the Mastercard Center for Inclusive Growth, the 2024 summit aims to propel tangible solutions to contemporary challenges through collaborative exchanges among entrepreneurs, innovators, policymakers, and emerging leaders. Since its inception in 2019, the summit has brought together a diverse array of leaders spanning various sectors. Together, they tackle crucial topics such as financial inclusion, leveraging data science for social good, exploring cutting-edge technologies like artificial intelligence, addressing climate concerns, promoting women's economic empowerment, and advocating for community-centric development. 

As we enter its second decade, we eagerly anticipate continuing the impactful conversations and initiatives aimed at fostering inclusive growth worldwide. 

Click here , to know more about the 2024 Global Inclusive Growth Summit. 

It's widely acknowledged that women typically earn less than men, a fact underscored by statistics showing that in the U.S. in 2022, women earned only 82% of what their male counterparts earned. This disparity is even more pronounced when comparing Latina women to non-Hispanic men, with Latina women earning just 54% of what non-Hispanic men earn. Beyond the ethical concerns of such inequality, this wage gap also poses significant drawbacks for businesses. Undervaluing women leads to a loss of talent, higher turnover rates, and increased levels of poverty. 

Conversely, an economy that recognizes and values the contributions of both women and men stands to benefit from a broader spectrum of ideas, expertise, and experience. In envisioning a society where everyone can contribute and thrive, comedian, writer, producer, and political commentator Trevor Noah joins forces with Melinda French Gates, a philanthropist and co-founder of the Gates Foundation, alongside María Teresa Kumar, an Emmy-nominated MSNBC contributor. Together, they advocate for a future where gender equality is not just an aspiration, but a reality that benefits society as a whole. 

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