Black employees are less likely than any racial identity to receive raises and promotions, with 36% reporting a promotion – compared to a 40% average – and 23% reporting a raise – compared to a 26% average, according to a recent report from Grads of Life found.
Grads of Life is a diversity, equity, and inclusion (DEI) consulting firm that aims to close opportunity gaps separating diverse workers from employers. Its report, “2022 Report, EQUITY & CAREER ADVANCEMENT: Insights from Underrepresented Employees,” discusses diverse and historically excluded talent in the private sector.
“At a time when the job market is particularly competitive and the cost of living is incredibly high, it is imperative that employers understand the crucial role that diversity, equity and inclusion play in building a more innovative and sustainable workforce,” said Grads of Life Founder Elyse Rosenblum. “The report shows that there are still wide gaps in ensuring true equity through employment.”
The report – with responses from 1,900 graduates from the Year Up workforce development program – aims to inform employers on how to implement DEI strategies to support historically excluded talent.
White respondents were a minority in the survey (5%). The data showed that, in 2021, white alumni were more likely than any other racial group to receive promotions (47%) and were also more likely than any other group to receive raises (44%.)
Also, respondents with a degree – associate’s or bachelor’s – were almost 9% more likely to get a promotion, raise, or shift to a higher-paying job between 2020-2021.