Black Women in Finance Discuss Pay Transparency in the Workplace | News

Twitter is home to many conversations that have sparked movement. Recently, it has become a hub for discussions about pay transparency (also called pay transparency), especially among black women and women of color.

Victoria Walker, a senior travel writer, took to Twitter to tell anyone applying for her old job what salary and bonuses they should ask for.

“I thought it was important to do this because not being transparent almost always guarantees that the person who comes up behind you might not get what they deserve,” Walker said.

It is true that often employees do not receive the salaries they deserve, especially women. Lack of pay transparency in the workplace contributes to gender, wage and race wage gaps, where women in the United States earn 83 cents for every dollar earned by men. Black, Latina and Indigenous women are disproportionately affected by low wages. So much so that black women in the United States are paid 36% less than white men and 20% less than white women. Greater pay transparency can help close these gaps, according to economists at the Institute for Women’s Policy Research.

Credit: The Good Brigade

Olayinka Odeniranfounder of CYBSECWATCH and the Black Women Blockchain Council, is a cybersecurity expert and consultant who values ​​entrepreneurship and makes the tech field inclusive and diverse.

BET.com sat down with Odeniran to talk about her journey through cybersecurity and finance, the ups and downs of being a black woman in finance, prioritizing wellness, and the importance of pay transparency for black women.

BET.com: What is your job title and how did you come to this position?

Olayinka Odeniran: I wear many hats – I am a cybersecurity consultant and founder/CEO of Black Women Blockchain Council LLC. I moved into cybersecurity due to the nature of my position at the time, which was chief compliance officer for a global financial company. I got my masters degree in cybersecurity management and policy. I also obtained the Certified Information Security Manager-CISM certification. Through my efforts, I was able to transition into a management role within the federal government after my career change.

BET.com: What is your annual salary or salary range for your job title/area?

Odeniran: $100,000+ – $600,000+ per year. Cybersecurity is one such industry that sees a wide range of salaries depending on your experience and specialty.

BET.com: Did it require an education, and do you think other women need an education to be successful in your field?

Odeniran: I found out that cybersecurity roles are really based on skills, experience and getting certified. Knowing where you want to be within cybersecurity is also crucial. Many people say they want to get into cybersecurity but don’t realize it’s an industry. You need to figure out which industry sub-sector you want to be in and once you do, you will find that the path is not that hard to walk.

BET.com: What does salary transparency mean to you, and do you think it’s important for black women to share and be aware of salaries for different jobs and fields?

Odeniran: Pay transparency is synonymous with responsibility and control. How much you make factors into the generational wealth we create and the type of lifestyles we can achieve. Within the black family, the individual who earns a steady income is often the main source of income for most of their family members. So we need to have the right knowledge and ask for the right amount at work without fear of leaving too much on the table or feeling like we’ve been wronged.

BET.com: What is it like to navigate your field as a black woman and how have you fought racial discrimination and/or wage discrimination?

Odeniran: This is a question that every black woman can look at and already know the answer to. For whatever reason, we all share the same experience, regardless of industry, company, etc. We encountered the same madness, passive aggressiveness, overwork, forgetfulness, disqualification, etc. Yet we continue to persevere knowing that we are so much more.

BET.com: Why did you create the Black Women BlockChain Council?

Odeniran: Black Women Blockchain Council Benefit LLC (BWBC) is a global benefit LLC established out of necessity in 2018. There has been a movement to show representation in what most assume is a male-dominated space.

PBWC’s goal is to create a space where black women are promoted, supported, and educated on blockchain.

Our vision is to ensure that in building this blockchain future, no one is left behind. We see blockchain as a revolution to help black women around the world, bridge the wealth gap, increase talent, and be innovative. To carry out our mission, we provide you with:

  • Educational events to raise awareness and increase mass adoption within the community.
  • Resources to train individuals in the technical understanding of distributed ledger technology.
  • Promoting Blockchain Projects Led by Black Women
  • Help black women get jobs in fintech, blockchain or other tech sectors.
  • Collaborate with other organizations to promote blockchain and cryptocurrency-friendly legislation and programs.
  • STEM education for disadvantaged girls (K-12). Our website is www.bwbc.io

Where do you live and how do you budget your city/village with your salary?

Odeniran: I live in the Washington, DC area. Budgeting starts with negotiating the income you deserve! Don’t leave anything on the table. Never be at a job that starves you. Also, understand that negotiation is an important part of your promotions and salary increases.

Working as a black woman can be extremely stressful, do you have any tips for making time for wellness and self-care?

Odeniran: Take it! I used to work in an environment where my boss micro managed me nagging about “work/life balance”.

What he really meant was that I have to extend myself and devote more time to my work, even if I put more effort into it than he and my colleagues. On top of that, I was juggling motherhood, college, and more. He represented everything that was negative about corporate work.

We deserve our free time. Our mental health and our physical health are more important than a crazy boss or a replaceable job. Take care, sis.

Disclaimer: Answers have been edited for clarity.