--- title: Gender Pay Gap: Investing Gap Exists, Too description: Sallie Krawcheck, CEO of Ellevest, discusses one other large monetary issue facing women that goes undiscussed. canonical: https://time.com/4242835/gender-pay-investment-gap/ author: Sallie Krawcheck article:opinion: false article:content_tier: free article:published_time: 2016-03-02T15:49:25.000Z article:modified_time: 2026-08-04T07:44:56.287Z og:title: The Other Pay Gap No One Talks About og:description: It's not what you think og:url: https://time.com/4242835/gender-pay-investment-gap/ og:site_name: TIME og:image: https://static.time.com/v3/assets/bltea6093859af6183b/blt637fe30ee85a3f45/69887fbf0a4a2222fe9c89c7/gender-pay-gap-investment-stocks-portfolio.jpg?branch=production&width=1200&quality=75&auto=webp&crop=16:9 og:image:width: 3000 og:image:height: 1688 og:image:alt: gender-pay-gap-investment-stocks-portfolio og:type: article twitter:card: summary_large_image twitter:title: The Other Pay Gap No One Talks About twitter:description: It's not what you think twitter:image: https://static.time.com/v3/assets/bltea6093859af6183b/blt637fe30ee85a3f45/69887fbf0a4a2222fe9c89c7/gender-pay-gap-investment-stocks-portfolio.jpg?branch=production&width=1200&quality=75&auto=webp&crop=16:9 ---  # The Other Pay Gap No One Talks About > Sponsored content. 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It is a free newsletter available at time.com/newsletters. ## Video: Some of The World's Most Powerful Women Share Their Best Advice [Watch (HLS stream): Some of The World's Most Powerful Women Share Their Best Advice](https://cdn.jwplayer.com/manifests/LF8Rmcmf.m3u8) (1:11)  _Published 2016-02-02_ by [Sallie Krawcheck](https://time.com/author/sallie-krawcheck/) ## Sallie Krawcheck Mar 2, 2016 3:49 PM UTC  Getty Images by [Sallie Krawcheck](https://time.com/author/sallie-krawcheck/) ## Sallie Krawcheck Mar 2, 2016 3:49 PM UTC It’s generally accepted these days that women have a money problem, and that problem is often presented via the statistic that [we earn only 78% of what men do](https://www.whitehouse.gov/issues/equal-pay). [Less if we work in certain industries](http://motto.time.com/4201637/pay-gap-calculator/), and [less if we are women of color](https://www.whitehouse.gov/issues/equal-pay). And this _is_ a problem, no doubt about it. It’s unjust, and it’s inexcusable. And we should fix it: As individuals, we should [ask for the raises we deserve](http://motto.time.com/4202330/making-less-money/); as companies, we should quantify and then close our gender pay gaps. But this isn’t the _only_ money issue facing women. There’s another gender gap that can cost women even more over the course of our careers, and that gap is the investing gap. [A 2015 survey from the investment-management company Black Rock](http://www.blackrock.com/corporate/en-us/literature/press-release/gip-genderfindings-2015.pdf) finds that only 53% of women have started saving for retirement, compared with 65% of men. The numbers look like this, starting with the pay gap: Let’s assume you’re making a salary of $85,000 a year and that you have 40 years left to work ahead of you. If you were to start being paid what a man would make, you’d earn almost $1 million _more_ over the course of your career. Pretty good stuff. **_Read more:_** [_Abby Wambach: Equal Rights Shouldn’t Be a Privilege_](http://motto.time.com/4233620/abby-wambach-on-hillary-clinton-equality-pay-gap/) But what if you take 20% of your (pre-raise) salary and invest it in a diversified investment portfolio—one made up of stocks and bonds designed to help you get the funds you need to retire down the road—rather than leaving that money in cash? Over those 40 years, you’d earn somewhere between $500,000 to $2.1 million in additional funds, depending on market performance. An extra $1 million in increased salary is good—but another $500,000 to $2.1 million on top of that is even better. **_Read more:_** [_Pay Gap Calculator: How Much Would You Make?_](http://motto.time.com/4201637/pay-gap-calculator/?iid=sr-link1) Why do most people intuitively believe that the raise will have a greater impact on their lives than investing will? It’s because they overlook the power of what’s called “compounding.” It essentially means that you earn returns on the money you invest, and you also earn returns on the returns themselves. So over time, the power of investing can outstrip the value of getting that raise. (An important point: This is by no means meant to suggest that the stock market only goes up. Hardly. And believe me, I have the scars from the market downturn of 2007 to 2008 to prove it. But historically—counting up years and down years and bumps along the way—the stock market has [returned 9.5% on average annually since 1928](http://pages.stern.nyu.edu/~adamodar/New%5FHome%5FPage/datafile/histretSP.html). This means that you can earn quite a bit more by investing than by keeping money in the bank, where it barely earns any return. So historically speaking, the reward for weathering some market ups and downs should be well worth it.) **_Read more:_** [_Marine Veteran: Drafting Women is the Key to Ending Gender Discrimination_ ](http://motto.time.com/4234492/draft-women-military/?iid=sr-link5) Of course, we should ask for the raise at work _and_ invest in our futures by putting money in something like a 401(k) and/or choosing a diversified portfolio of stocks to invest in on your own. I implore you: Take financial control now. _Sallie Krawcheck is the CEO and cofounder of_ [_Ellevest_](http://www.ellevest.com/?utm%5Fsource=Motto&utm%5Fmedium=article&utm%5Fcampaign=the%5Fmoney%5Fhalf%5Ftruth%5Fthat's%5Fhurting%5Fus)_, a digital-investment platform for women launching in 2016\. You can sign up for early access_ [_here_](http://www.ellevest.com/?utm%5Fsource=Motto&utm%5Fmedium=article&utm%5Fcampaign=the%5Fmoney%5Fhalf%5Ftruth%5Fthat's%5Fhurting%5Fus)_._ ## Transcript [ MUSIC ] Don't wait for people to give you your power. Just take it. Think of yourself as a thermostat. You do have to have situational leadership. Sometimes you have to dial things up. And sometimes you have to dial things down. Best piece of advice? Sing every day. Resist the temptation to hire in your likeness. So the best piece of advice I've ever gotten is super simple. Work harder than everybody else. Hire people that think differently than you do. That add something different than what you have to offer. From my father before I went to basic training just to keep my sense of humor. Make it a great place to work. And you'll attract talent. You can develop talent. And great products come from great teams. Being patient. Don't be so restless. You're not the smartest person in the room. It's okay to take risks. Play nice. It'll always come back to you no matter what happens. You need to collaborate with your colleagues and make them as successful as yourself. There are very few decisions, career decisions, that you make that are irreversible. Always be yourself. 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