Asian American and Pacific Islander Women Face Significant Lifetime Salary Shortfall Due to Gender Pay Gap

AAPI women in the US face a staggering $267,760 lifetime salary shortfall due to the gender pay gap. The Global Talent Symposium in 2024 will address this issue and recognize companies committed to AAPI employee advancement.

author-image
Trim Correspondents
Updated On
New Update
Asian American and Pacific Islander Women Face Significant Lifetime Salary Shortfall Due to Gender Pay Gap

Asian American and Pacific Islander Women Face Significant Lifetime Salary Shortfall Due to Gender Pay Gap

In 2024, Asian American and Pacific Islander (AAPI) women in the United States are expected to face a staggering lifetime salary shortfall of $267,760 due to the persistent gender pay gap. This disparity is particularly pronounced for certain subgroups within the AAPI community, with Bhutanese women earning a mere 48 cents for every dollar earned by white men.

The issue of the gender pay gap and its impact on AAPI women will be a key focus at the upcoming Global Talent Symposium in 2024. The event will bring together AAPI corporate leaders and other experts to discuss the business case for diversity, equity, and inclusion (DEI) amidst a polarized climate. Erika Irish Brown, Citi's Chief Diversity, Equity, and Inclusion Officer, and Dr. Kyung-wha Kang, Asia Society's President and CEO and former South Korean Foreign Minister, are among the notable speakers set to address the symposium.

Why this matters: The significant lifetime salary shortfall faced by AAPI women highlights the urgent need for action to close the gender pay gap and promote greater equity in the workplace. Addressing this issue is critical not only for the economic well-being of AAPI women but also for the overall health and competitiveness of the U.S. economy.

The Global Talent Symposium will also recognize individuals and companies that have demonstrated exceptional commitment to the advancement of AAPI employees. This recognition underscores the importance of collaborative efforts between businesses, policymakers, and advocacy groups in creating a more inclusive and equitable work environment for AAPI women and other underrepresented groups.

The growing diversity of the U.S. population, with minorities and immigrants accounting for an increasing share of population growth, further emphasizes the need to address the gender pay gap and other forms of workplace discrimination. Asian Americans, in particular, are the fastest-growing racial group, with a growth rate of 35%, while multiracial Asian Americans are the fastest-growing group overall at 55%.

As Erika Irish Brown, Citi's Chief Diversity, Equity, and Inclusion Officer, prepares to speak at the Global Talent Symposium, she underscores the importance of the event in driving change: "The Global Talent Symposium provides a critical platform for us to come together, share best practices, and chart a course towards a more equitable future for AAPI women and all underrepresented groups in the workforce."

Key Takeaways

  • AAPI women in the US face a $267,760 lifetime salary shortfall due to the gender pay gap.
  • The 2024 Global Talent Symposium will focus on the gender pay gap's impact on AAPI women.
  • Addressing the gender pay gap is crucial for AAPI women's economic well-being and US competitiveness.
  • The US population is becoming more diverse, with Asian Americans being the fastest-growing racial group.
  • The Symposium aims to drive change and create a more equitable future for AAPI women in the workforce.