“Five for Your Eyes” is a new series of posts where I share five features that I found to be interesting or worth reading. I read a lot of books, but I also love reading long-form pieces in publications like the New York Times, the Atlantic, and the New Yorker, looking into slices of the world I was previously unaware of, or have held interests in. I hope some of these articles will interest you as well!
Another stunning but perhaps unsurprising finding was that 63% of the time, men were offered higher salaries than women for the same role at the same company. The report found that companies were offering women between 4% and a whopping 45% less starting pay for the same job. Women in tech also tended to undervalue their market worth, asking for less pay 66% of the time, and would often ask for 6% less salary than their male counterparts.
At the same time, women tech workers know they are being underpaid, regardless of whether or not they underbid themselves. When women applicants were asked about whether they knew if they were being paid less than their male colleagues for the same job, 54% reported that they knew they were. This is in sharp contrast to the 19% of men who had experienced the same dynamic.
While nearly three-fourths of women surveyed believe that gender can impact pay, a majority of men (53%) also agree that gender identity can impact pay. The interesting point here is the majority agreement on how gender shapes earning potential. Nearly three-fourths of women interviewed agreed that gender can impact pay, compared to 53% of men agreeing to the same notion.
What’s even more interesting is that having a pay gap is considered an unattractive quality by both genders. A very strong majority of women (84%) said that negative attention around having a pay gap would also negatively impact their opinion of that company, with 50% of men agreeing as well. This finding suggests that if a company wants to attract key talent, taking steps to eliminate pay gaps within their company would be a clear recruitment tool for all genders.
☆ Being Frugal is for the Rich (The Outline)
[The myth of the American Millennial] goes like this. The 2008 recession may have cratered the wages and employment prospects for people just entering the job market, but according to the myth of the American Millennial, the real problem young people have today is themselves. Nearly a decade after the crash, the mainstream media still seems hell-bent on portraying people born between 1982 and 2004 as a bunch of decadent and “fun-employed” narcissists who piss their parents’ money away on matcha green tea lattes, spend too much time Instagramming their pets, and are thus responsible for the economic rut they’re stuck in.
This myth — which scrubs millions of underprivileged Millennials from the picture — is crucial to understanding why the media is swooning over the Frugalwoods right now. What’s remarkable about them is how they’ve managed to offer the public a kind of Millennial redemption story: a tale of two Millennials taking the time and responsibility to learn about money, rein in their spending impulses, and achieve financial security. But how realistic is that narrative?
Not very. Millennials have been caricatured as affluent liberal-arts majors with no career plans, but the reality is most Millennials don’t even have a college degree. And last year, the advocacy group Young Invincibles used Federal Reserve data to determine that Millennials as a whole earn about 20 percent less than Baby Boomers did during their formative years, and amass roughly half the net wealth.
The Bureau of Labor Statistics puts the median weekly income for Millennials with a high school diploma at $692, which amounts to barely $36,000 for a full-time annual salary. Meanwhile, the minority of Millennials with associate’s and bachelor’s degrees earn median weekly incomes of $819 and $1,156, which respectively add up to $42,588 and $60,112 annually. That’s before their paychecks are flattened by rent, utilities, and exorbitant health insurance premiums and deductibles. And for the millions of Millennial freelancers toiling away in the “gig economy” — which is growing larger each year — benefits like 401K plans and employer-paid insurance slide further out of reach.
There are plenty of good reasons for this unease. The revelations about Facebook’s data harvesting make it hard to see such platforms, or time spent on them, as harmless fun. There are also valid concerns about the impact on mental health, particularly where young people are concerned. One US study found that teenagers who use social media and the internet the most are twice as likely to be unhappy. I worry increasingly that I feel a discomforting twitch if my phone isn’t near me day and night.
But I can’t help but wonder if only privileged people can afford to take a position of social media puritanism. For many, particularly people from marginalised groups, social media is a lifeline – a bridge to a new community, a route to employment, a way to tackle isolation.
“Without social media, life would be so much harder,” says Philip Green, 56, from London. Green has arthritis in his spine, as well as mental health problems, and lives with severe pain that means going out to socialise is often impossible.
“I’m relatively lucky to have some really good close friends, but my most frequent communication with them is via Facebook or WhatsApp,” he says. Because he lives on disability benefits, he can rarely afford a trip to the cinema or lunch with friends. “On top of this, if I get a flare-up of pain, all plans have to be cancelled.” This sort of isolation is a common experience: recent research showed that almost half of disabled people in Britain are “always or often” lonely.
☆ Fault Lines S2015 E5: Shadow City (Al Jazeera English)
Fault Lines investigates what life is like for homeless people in New York City, and why the city has failed to address its unprecedented homelessness crisis.
☆ The Silence: The Legacy of Childhood Trauma (The New Yorker)
*TRIGGER WARNING: RAPE*
That violación. Not enough pages in the world to describe what it did to me. The whole planet could be my inkstand and it still wouldn’t be enough. That shit cracked the planet of me in half, threw me completely out of orbit, into the lightless regions of space where life is not possible.
I can say, truly, que casi me destruyó. Not only the rapes but all the sequelae: the agony, the bitterness, the self-recrimination, the asco, the desperate need to keep it hidden and silent.
It fucked up my childhood. It fucked up my adolescence. It fucked up my whole life.
Five for Your Eyes – 002
So that was the second installment of “Five for Your Eyes“! I hope at least one of the articles intrigued you! Let me know what you think, or anything you thought was interesting!
If you have a recommendation for an article, please share them with me!