One of the things borne out of the Civil Rights Movement was the desire to get more Blacks educated so the playing field could be leveled. Education was seen as a way out. Grants and financing were created to give Blacks the opportunity to pursue higher education. Black men responded by attending college in higher numbers, but Black women overwhelmingly signed up for a better life using education as the tool to get there.
Among Black students in higher education, women are more likely than men to earn degrees: Black women get 64.1 percent of bachelor’s degrees, 71.5 percent of master’s degrees, and 65.9 percent of doctoral, medical, and dental degrees. Among students enrolled in four-year public institutions, 45.9 percent of Black students complete their degrees in six years — the lowest rate compared to other races and ethnicities. Black men have the lowest completion rate at 40 percent.
Because Black women are attaining more degrees, they are winning more positions at the executive level that pay a higher salary and bonus. The term, “getting the bag” is defined as getting large sums of money based on either performance or winnings — and Black women are winning.
SKILLS THAT PAY THE BILLS
Black women are not just obtaining degrees, they’re getting degrees in positions that allow them to advance, run companies, lead divisions, and determine policy. Blacks are getting promoted at a faster rate than any other minority and they’re leading in all sectors of professional employment among minority groups.
These accomplishments are amazing when considering how fast Black women have advanced based on education. The mission of the Civil Rights Movement was heard and motivated Black people, but especially Black women.
HOMEOWNERSHIP
Because many degreed Black women are earning six-figure salaries, their purchasing power has skyrocketed. Black women enjoy the fruits of their labor. They’re purchasing luxury automobiles and are buying homes at almost a 2 to 1 ratio of their Black counterparts. This could be because Black women have children and a need for a home. But overwhelmingly, the main reason Black women are buying homes at a higher ratio is that they can afford them.
“I rewarded myself with some of the things I wanted after I got my position,” Angie said. “I worked hard for it, so I decided to treat myself. Life is too short to not get the things you want.”
And she isn’t alone. Black women are the leading race in
spending and continue to be the driving force behind trends set by the community.
Using 2020 and 2021 data, pursuant to equity in the form of narrowing Black-white differences in household income, Black purchasing power could jump from $976 billion to a potential $1.6 trillion in the US. Black couples and Black family’s purchasing power is at an all-time high and much of it is based on Black women obtaining coveted positions at some of the country’s top companies.
THE NEGATIVE IMPACT
Marriage across the board for all races is declining. But for the Black household, the decline has fallen off a cliff. Some 34.4 percent of Black men were married in 2021, compared to 28.6 percent of Black women. For Whites, 55.5 percent of men and 52.4 percent of women were married. More than 48 percent of all Black women and 51.1 percent of Black men had never been married.
This devastating statistic impacts the entire race. Children born out of wedlock often suffer from the largest disadvantage of not having a mother and father in the same home. But women excelling is not the problem.
The problem comes from a lack of understanding of how to adapt to the changes in the balance of who provides, who protects, and who runs the homes in Black America.
LIFE GOING FORWARD
There is no doubt that the gains Black women have made are to be celebrated. The Black race needs as many people prospering as possible if the race is going to become self-sufficient and self-reliant. Black men need to begin to increase their numbers of getting degrees so they, too, can benefit from the hard work an education provides.
Black women have the bag, have the momentum, and have the right to be proud of themselves. Everyone else needs to pull their weight and join them in winning the professional career game. ●
