Women in Mortgage: Why We Matter
TODAY’S MORTGAGE BROKER The average age of a Mortgage Broker is 40+ years
67% of Mortgage Brokers are Caucasian
● Male ● College educated ● Affluent ● CA or FL based Source: Mortgage Broker Statistics and Facts in the US
Association of Independent Mortgage Experts. 2022
STATE OF THE MORTGAGE INDUSTRY Gender Pay Gap
Women still make up less than 20% of the highest-level jobs that have profit-and-loss responsibility in American banking, insurance, and mortgage companies. Source: Harvard Business Review report
Association of Independent Mortgage Experts. 2022
STATE OF THE MORTGAGE INDUSTRY Gender Pay Gap
$139,201 Male
$124,888 Female
Women Earn 90¢ for Every $1 Earned by Men Source: Mortgage Broker Statistics and Facts in the US
Association of Independent Mortgage Experts. 2022
STATE OF THE MORTGAGE INDUSTRY Gender Pay Gap
Loan Officers are one of the top 20 jobs with the highest gender pay gaps. Source: 2022 State of the Gender Pay Gap Report, Payscale
Association of Independent Mortgage Experts. 2022
THE CHALLENGES WE FACE
Association of Independent Mortgage Experts. 2022
There is still a “broken rung” at the first step up to manager. Source: Women in the Workplace 2021
Association of Independent Mortgage Experts. 2022
LACK OF EXECUTIVE REPRESENTATION
% of Employees
Representation of Women by Level 2021
Source: Women in the Workplace 2021, Leanin.Org and McKinsey, 2021
Association of Independent Mortgage Experts. 2022
MORE ADVANCEMENT = LESS PAY Gender Pay Gap by Job Level
Source: 2022 State of the Gender Pay Gap Report, Payscale Association of Independent Mortgage Experts. 2022
Women who are parents experience a larger pay gap than men who are parents. Source: PEW Research Center
Association of Independent Mortgage Experts. 2022
BURNOUT AFFECTS MORE WOMEN Burnout by Gender (%)
Source: Women in the Workplace 2021, Leanin.Org and McKinsey, 2021 Association of Independent Mortgage Experts. 2022
THE IMPACT WE HAVE
Association of Independent Mortgage Experts. 2022
The increase in women’s work hours from 1979 to 2012 resulted in
+11% in gross domestic product (GDP), amounting to
$1.7 trillion Source: International Monetary Fund
Association of Independent Mortgage Experts. 2022
Female managers are more focused on employee well-being. Source: Women in the Workplace 2021
Association of Independent Mortgage Experts. 2022
FEMALE MANAGERS OFFER MORE SUPPORT Actions taken by managers to support employees, by manager’s gender (%)
Source: Women in the Workplace 2021, Leanin.Org and McKinsey, 2021
Association of Independent Mortgage Experts. 2022
HOW DOES THIS IMPACT HOMEBUYERS?
Association of Independent Mortgage Experts. 2022
REPRESENTATION MATTERS Average U.S. Home Buyers
Source: NAR 2021
Association of Independent Mortgage Experts. 2022
Women make
91% of new home buying decisions. Source: Bloomberg
Association of Independent Mortgage Experts. 2022
HOW TO CLOSE THE GAP
Association of Independent Mortgage Experts. 2022
1. Get Your Voice Out There
24% of the people we read about, see, or hear from on television, radio, and in the newspapers are women. Source: United Nations
Association of Independent Mortgage Experts. 2022
2. Grow the Broker Channel
Women make up the majority of minimum wage earners. Source: Breadwinning Mothers Continue To Be the U.S. Norm, The Center for American Progress
Association of Independent Mortgage Experts. 2022
3. Foster the Next Generation Mortgage Broker Age Breakdown
Source: Mortgage Broker Statistics and Facts in the US
Association of Independent Mortgage Experts. 2022
4. Support Mothers
Women’s labor force participation in the U.S. lags behind other advanced economies because of lack of work-family policies to support working caregivers. Source: American Economic Review
Association of Independent Mortgage Experts. 2022
WE ARE MAKING STRIDES
Association of Independent Mortgage Experts. 2022
Association of Independent Mortgage Experts. 2022
If you are a woman pulling up a seat to the table, I will cheer you on. Association of Independent Mortgage Experts. 2022
WE ARE THE FUTURE OF THE BROKER CHANNEL
Association of Independent Mortgage Experts. 2022