What’s up with the LGBTQ Income Gap?
Some studies are showing that the LGBTQ income gap is closing, but is this really true? Why might some research suggest this? Listen and find out. If you want to reach financial sustainability and financial independence, start here by getting rid of any credit card debt with the free, 7-Step Credit Card Debt Slasher.
Watch why the LGBTQ income gap closing may be deceiving
Are LGBTQ folks closing the income gap?
Some studies are showing that the LGBTQ income gap is closing, but is this really true?
Why might some research suggest this?
Prudential’s 2012 and 2018 LGBT Financial Experience Surveys highlighted a sexual orientation/gender identity pay gap.
Recent studies suggest that gay men and lesbian women who are coupled are closing that gap. Is this true? Well, it’s not the whole story.
The truth about LGBTQ income
Per the US Census, even when children are involved both partners in same-sex relationships tend to work.
- 27% More Same-Sex Couples Have Both Parties Working Than Opposite-Sex Couples
This is a dynamic that’s not as prevalent with straight couples where usually one partner, usually heterosexual women, stays home with the kids. Additionally, lesbian women tend to work more hours more consistently than straight working women as fewer lesbians than straight women have children.
As MV Lee Badgett, on Queer Money podcast episode #323, says, this contradicts the “lesbian advantage theory”. The ‘lesbian advantage theory’ says that “lesbians earn 9% more than heterosexual women with the same qualification.”
So, while we may be closing the sexual orientation/gender identity pay gap, it’s most likely because more queer people are working more on average than our straight counterparts.
This is why, as we shared last week, we need to talk more as a community about money and, specifically, talk about our salaries. It’s also important to understand why these discrepancies exist so that you can respond to those who would tell you that there isn’t an income gap.
Previous Bonus Podcast Episodes
- How Salary Transparency Helps LGBTQ People
- Financial Priorities and Concerns of LGBTQ Folks Based On Research
- Financial Stress is Killing You. Here’s What You Can Do
Click below to listen to this bonus episode