10x
The average working mother takes 10x the amount of time off work to take care of children than men.10
44%
The average woman spends 44% of her adult life out of the workforce.11
Women& Job transition
There are many reasons for a job transition; for career advancement, layoffs or simply to change what you do, but women face several additional reasons for job transitions.
Incredibly, the average women spends 44% of her adult life out of the workforce compared to men who are at 28%. The main reason for this is because women tend to make more values-based decisions for their families, rather than just going for the bottom line. 80% of women become mothers during their lifetime and working women take 10x the amount of time off work to care for children than men.12 Parenting is emotionally rewarding and fulfilling, but it also poses challenges for career trajectories and finances. In addition, 2/3 of elder care is done by women in their prime earning years, when women make employment tradeoffs for family it affects earnings potential and opportunities for promotion due to breaks in the workforce.13
WeRise Job Transition Strategy
In today’s world, it is unlikely you will spend your entire career with one company.
Particularly in industries like tech, it can be common to move around, as a new job is usually a step- up in title or salary. Whether you voluntarily left your employer to pursue a new opportunity or are contemplating next steps after a merger or a sabbatical, transitions can be overwhelming. We help you navigate through all your options and adapt your financial plan to reflect your new circumstances. Whether you’ve been at your old job for one year or twenty, you will still need to prepare to financially transition to your new employer and tie up loose ends. Unfortunately, it is usually during a job transition where costly financial mistakes are made.
what we consider:
- We help you take care of your old 401(k)
- Comprehend the nature of your compensation at your old job
- Maintaining adequate life and disability insurance coverage
- Changing your health insurance coverage
- Review deferred compensation plans from your previous employer
- Review your new compensation package and help you navigate a successful negotiation
- Assess the impact of your new package on your entire financial situation including your tax situation
10) report on single-parent families by the National Center for Family & Marriage Research (NCFMR) 2016
11) Age Wave Estimate, Bureau of Labor Statistics, Number of Jobs, Labor Market Experience, and Earnings Growth: Results from a National Longitudinal Survey, 2017
12) Pew Research Center, Women More than Men Adjust Their Careers for Family Life, 2015
13) Family Caregiver Alliance, Facts and Figures, 2015
11) Age Wave Estimate, Bureau of Labor Statistics, Number of Jobs, Labor Market Experience, and Earnings Growth: Results from a National Longitudinal Survey, 2017
12) Pew Research Center, Women More than Men Adjust Their Careers for Family Life, 2015
13) Family Caregiver Alliance, Facts and Figures, 2015