To support Black and Hispanic women in the workplace, we must understand the unique challenges they face and advance solutions. Young Black and Latina girls are more likely to identify as leaders than girls of other races. However, when they grow up, the pay and opportunity disparities are jarring. In fact, according to the US Census, Black women were paid 63% of what non-Hispanic white men were paid. That means it takes the typical Black woman 19 months to be paid what the average white man takes home in 12 months. And Latinas endure the widest pay gap of any group, earning just 57 cents on the dollar compared to non-Latino white men.
Its no secret that gender bias plays a role in income disparities, and unfortunately, these inequities intensify when considering compounding factors like race and ethnicity. JPMorgan Chase is increasing awareness around these inequalities and is committed to using its resources to make real change not just during Womens History Month, but every month.
Silvana Montenegro, Head of Advancing Hispanic & Latinos and Byna Elliott, Head of Advancing Black Pathways at JPMorgan Chase recently discussed their perspectives on women in the workplace, and how the company is helping to create an equal playing field.
Q: How is JPMorgan Chase working to tackle income inequity for Black and Hispanic/Latina women?
Silvana: Tackling income inequality requires consistent programming that focuses on inequity both in the workplace and in the educational environment Black and Hispanic/Latina women are in before they start working. Advancing Black Pathways (ABP) and Advancing Hispanic & Latinos (AHL) were born out of recognition that, while our company has made efforts to be inclusive and impactful in all activities, we must be intentional in our approach. ABP was established to help the Black community chart stronger paths toward economic success and empowerment, while AHL is a way for us to drive meaningful and sustainable change for the Hispanic and Latino communities.
Through these initiatives, weve created activities focused on entrepreneurship, career readiness and support, financial health, and community development. Women are a core audience for all of our efforts.
Q: How is JPMorgan Chase helping Black and Hispanic/Latina -owned businesses grow and expand?
Byna: The number of Black and Latina women becoming entrepreneurs is accelerating. Black business ownership is up by almost 30% on pre-pandemic levels and Black women are the fastest-growing group of female entrepreneurs. Similarly, Latinas are more likely to own or plan to own their own businesses than non-Hispanic women. We want to see entrepreneurs not simply do well, but thrive!
Partnership is key in helping to reach Black and Latina entrepreneurs with helpful resources. Internally, we partner across our business including with our community and consumer branch colleagues who are often the face of the company to entrepreneurs to offer business education, coaching and banking solutions to business owners. External partnerships are also critical.
For example, ABP partnered with digitalundivided to launch BREAKTHROUGH, a business-intensive program designed to help women of color entrepreneurs propel their businesses. The curriculum includes programming on strengthening customer engagement and banking relationships, as well as identifying and implementing business models. Upon completion, each participant receives a $5,000 grant to invest in their business.
Silvana: Weve also introduced a new partnership with Elevate Together a program designed to support the growth and prosperity of Black and Hispanic-and Latino-owned small businesses in collaboration with U.S Hispanic Chamber of Commerce and The ODP Corporation. We are supporting this years expansion by being the exclusive provider of bilingual financial education content through Chase for Business modules and supporting the creation of an online platform where participants can register to access materials for free.
Byna: Both ABP and AHL offer fellowship programs, which aim to increase opportunities for underrepresented communities in the financial industry. The ABP Fellowship Program launched in 2019 and the AHL program will commence this year. Nearly 700 students have participated in the programs, more than half of which identify as female. The programs provide a six-week paid, full-time fellowship held during the summer for rising sophomore college students who identify as Black and Hispanic and Latino. This opportunity exposes students to hands-on experience, mentorship, and a project-based curriculum, designed to help build a pathway to future opportunities.
Silvana: Additionally, we recently established a partnership with the Hispanic Scholarship Fund one of the nations largest non-profit organizations supporting higher education for Hispanic and Latino students to grow the entry-level pipeline of Hispanic and Latino employees, expand campus recruiting opportunities and provide financial education for Hispanic and Latino students.
Silvana: Absolutely! For example, last year, J.P. Morgan Wealth Management hosted Building A New Legacy: A Summit for Black and Latina Women. The virtual celebration of sisterhood provided a unique space for Black women, Latinas and all allies to take an investing journey together. Through live discussion panels, one-on-one sessions with celebrities and on-demand conversations, the event served as a platform to help promote education on building and retaining wealth.
Sponsored content from JPMorgan Chase & Co
For more, visit https://www.jpmorganchase.com/impact. You can also learn more about both ABP and AHL at: https://www.jpmorganchase.com/impact/people/advancing-black-pathways https://www.jpmorganchase.com/impact/people/advancing-hispanics-latinos.
View post:
- Intentional Community and Capitalism - Shareable - April 10th, 2024 [April 10th, 2024]
- How alternative communities have evolved from pacifist communes to a solution to the ageing population - The Conversation - March 12th, 2024 [March 12th, 2024]
- Georgia Power Announced T. Dallas Smith named to Georgia ... - All On Georgia - November 18th, 2023 [November 18th, 2023]
- CSRWire - Thought Leaders Gather for Critical Community ... - CSRwire.com - November 18th, 2023 [November 18th, 2023]
- EPA centers diversity with first-ever environmental youth advisory council - Yahoo News - November 18th, 2023 [November 18th, 2023]
- Rigor, Relevance, & Reality: Education Collaboratory at Yale ... - Yale School of Medicine - November 18th, 2023 [November 18th, 2023]
- Gaza: UN experts call on international community to prevent ... - ReliefWeb - November 18th, 2023 [November 18th, 2023]
- Fathering Together Announces Acquisition of City Dads Group - PR Web - November 18th, 2023 [November 18th, 2023]
- Company to pay over $50 million in largest environmental lawsuit settlement in D.C. history: Health risks to the public - Yahoo News - November 18th, 2023 [November 18th, 2023]
- Student death is now part of the routine at Middlebury - The Middlebury Campus - November 18th, 2023 [November 18th, 2023]
- We welcomed an abandoned dog into our family. But dog dumping ... - Kansas Reflector - November 18th, 2023 [November 18th, 2023]
- The National Climate Assessment Goes Woke - Dallasweekly - November 18th, 2023 [November 18th, 2023]
- A Conversation about History, Race and the Meaning of True ... - Philanthropy Roundtable - November 18th, 2023 [November 18th, 2023]
- The color of community | WORLD - WORLD News Group - November 18th, 2023 [November 18th, 2023]
- Kindness has good benefits | News, Sports, Jobs - The Review - November 18th, 2023 [November 18th, 2023]
- Georgia Power Foundation awards grant for BIG Edge ... - Georgia Southern University Newsroom - November 18th, 2023 [November 18th, 2023]
- "Chilling": Maryland lawmakers threaten to cut aid to immigrants ... - Salon - November 18th, 2023 [November 18th, 2023]
- Three water options come with high cost | News, Sports, Jobs - Evening Observer - November 18th, 2023 [November 18th, 2023]
- Welcome to the Team, Kintan! | Office of Immigrant Affairs - Philadelphia Water Department - July 11th, 2023 [July 11th, 2023]
- Fannie Mae Recognized for Its DEI Efforts - DSNews.com - July 11th, 2023 [July 11th, 2023]
- Fannie Mae Named 'Best Place to Work for Disability Inclusion' and ... - Fannie Mae - July 11th, 2023 [July 11th, 2023]
- Focused on progress - Weekly Challenger - July 11th, 2023 [July 11th, 2023]
- Good Ancestors and Messengers of Hope - Digital Journal - July 11th, 2023 [July 11th, 2023]
- 'Make it intentional': 3-N-1 Trinity Services helps young ... - Longview News-Journal - July 11th, 2023 [July 11th, 2023]
- 'Latinistas' is the World's First All-Latina Fashion Doll Line - hiplatina.com - July 11th, 2023 [July 11th, 2023]
- CSU Releases Findings of Three-Year Research Study on NAVA'S ... - InvestorsObserver - July 11th, 2023 [July 11th, 2023]
- Press Ganey's Physician of the Year on a cardiology 'game changer ... - Becker's Hospital Review - July 11th, 2023 [July 11th, 2023]
- City Officials Join Summer Campers and Local Artists to Kick Off ... - Philadelphia Water Department - July 11th, 2023 [July 11th, 2023]
- Merrill and Linda Hutchinson on Communication for a Summer of ... - Digital Journal - July 11th, 2023 [July 11th, 2023]
- Feathers installed as Rotary District Governor | News, Sports, Jobs - The Inter-Mountain - July 11th, 2023 [July 11th, 2023]
- Theatre at St. Luke's: All Shook Up to The Little Mermaid - Orlando Sentinel - July 11th, 2023 [July 11th, 2023]
- Culture wars rage on, forcing marketers to decide whether to ... - Marketing Dive - July 11th, 2023 [July 11th, 2023]
- Some thoughts on governance of the local variety - Resilience - July 6th, 2023 [July 6th, 2023]
- 988 is saving lives, but more awareness and support needed - Alton Telegraph - July 6th, 2023 [July 6th, 2023]
- The Limitations of Eco-Anxiety | Atmos - Atmos Magazine - July 6th, 2023 [July 6th, 2023]
- Welcome Back: How JAPER Becomes Real for the People in Brazil ... - Just Security - July 6th, 2023 [July 6th, 2023]
- Now Is the Time to Go All In on Heat Pumps - Rocky Mountain Institute - July 6th, 2023 [July 6th, 2023]
- Tennessee Department of Transportation (TDOT) celebrates 40th ... - Elizabethton.com - July 6th, 2023 [July 6th, 2023]
- Discrimination or bureaucracy? A Jewish community in Germany ... - The Jerusalem Post - July 6th, 2023 [July 6th, 2023]
- AAP Rules And Guidelines For How To Keep Kids Safe From Cars - Fatherly - July 6th, 2023 [July 6th, 2023]
- Pine County Sheriff's Report and Jail Roster | Communities ... - Pine City Pioneer - July 6th, 2023 [July 6th, 2023]
- Is a Hanan Ben Ari concert the solution for Jewish divisions? - opinion - The Jerusalem Post - July 6th, 2023 [July 6th, 2023]
- What the LGBT wedding website Supreme Court ruling means for ... - The Atlanta Journal Constitution - July 6th, 2023 [July 6th, 2023]
- Out at CHM hosts its first 2023 event - Windy City Times - July 6th, 2023 [July 6th, 2023]
- 'The time is now': Longtime friends launch support organization for ... - The Lawrence Times - July 6th, 2023 [July 6th, 2023]
- La Vergne Receives Municipal League Award for Excellence in Fire ... - rutherfordsource.com - July 6th, 2023 [July 6th, 2023]
- UW System offers status update on its five-year strategic plan (day 1 ... - University of Wisconsin System - July 6th, 2023 [July 6th, 2023]
- Hawaii Native Krystal Ka'ai Tackles Equity And Anti-Asian Hate For ... - Honolulu Civil Beat - July 6th, 2023 [July 6th, 2023]
- News & events / News - Diocese of York - July 6th, 2023 [July 6th, 2023]
- Businesses that address social or environmental problems often ... - The Conversation - July 6th, 2023 [July 6th, 2023]
- EFOC: Is This Happening To Me Because I'm Black? Combating ... - Essence - July 6th, 2023 [July 6th, 2023]
- Stations Telling Diverse Stories With Sponsored Segments from ... - Next TV - July 6th, 2023 [July 6th, 2023]
- Ex-Prisoners Face Headwinds as Job Seekers, Even as Openings ... - The New York Times - July 6th, 2023 [July 6th, 2023]
- Bungie weighs in on the current argument raging through the ... - PC Gamer - July 6th, 2023 [July 6th, 2023]
- Myanmar: Dire humanitarian and human rights situation ... - OHCHR - June 30th, 2023 [June 30th, 2023]
- Invest in our public schools - EdNC - June 30th, 2023 [June 30th, 2023]
- N.Y. stands up for LGBTQ equality: Having Pride 12 months a year - New York Daily News - June 30th, 2023 [June 30th, 2023]
- NASCAR, Bubba Wallace bring 'Bubba's Block Party' to Chicago - Daytona Times - June 30th, 2023 [June 30th, 2023]
- Fifth Third's 2022 Sustainability Report Shares Progress on Priorities ... - InvestorsObserver - June 30th, 2023 [June 30th, 2023]
- Top LGBTQ+ Financial Influencers to Learn from in 2023 - Investopedia - June 30th, 2023 [June 30th, 2023]
- 'Retirement is so traditional,' try periodic retirement to figure out ... - Morningstar - June 30th, 2023 [June 30th, 2023]
- Crisis of missing and murdered Indigenous people brings federal ... - New Mexico In Depth - June 30th, 2023 [June 30th, 2023]
- The Astounding Power of Intentional Productivity (And How You Can ... - The Good Men Project - June 30th, 2023 [June 30th, 2023]
- What SCOTUS ruling on affirmative action means for UL schools - Louisiana Radio Network - June 30th, 2023 [June 30th, 2023]
- Community managers find the path for developers and players to ... - VentureBeat - June 30th, 2023 [June 30th, 2023]
- The EPA was ready to clean up 'Cancer Alley.' Then it backed off. - Grist - June 30th, 2023 [June 30th, 2023]
- What Bidenomics Means for Workers and Families - UpNorthNews - June 30th, 2023 [June 30th, 2023]
- The vital link between a healthy press and our republic - The Fulcrum - June 30th, 2023 [June 30th, 2023]
- Death, Drag, and Decadence shows off the queer joy of DnD - Wargamer - June 30th, 2023 [June 30th, 2023]
- Israeli Expats in the U.S.: 'I Speak English, but I Don't Speak American' - Tablet Magazine - June 30th, 2023 [June 30th, 2023]
- NTSB hearings end with talks on tanker conditions, fire's aftermath - Marietta Times - June 30th, 2023 [June 30th, 2023]
- Can 'Friendship Clubs' Cure the Loneliness Created by Remote Work? - The San Francisco Standard - June 4th, 2023 [June 4th, 2023]
- 'Men in Blazers' Podcast Comes to Higher Ground to Talk Vermont ... - Seven Days - June 4th, 2023 [June 4th, 2023]
- Mindfulness, breathwork expert preaches value of slow living to Black and brown communities - Yahoo News - June 4th, 2023 [June 4th, 2023]
- Idaho's physician shortage is here. Here's what we can do about it. - Idaho Capital Sun - June 4th, 2023 [June 4th, 2023]
- Awards Ceremony Shines Spotlight on Caltech's Trailblazers in ... - Caltech - June 4th, 2023 [June 4th, 2023]
- The African American Museum of Iowa Announces Juneteenth ... - River Cities Reader - June 4th, 2023 [June 4th, 2023]
- US Supreme Court Rules Against Striking Drivers Who Abandoned ... - Engineering News-Record - June 4th, 2023 [June 4th, 2023]
- The Future of the Thomaston Green is Green (or should be) - PenBayPilot.com - June 4th, 2023 [June 4th, 2023]
- The Elephant in the Ethernet Port - City Journal - June 4th, 2023 [June 4th, 2023]