Peaks & the Table present: Money Talks

For women, a good income is not a given

‘A large income is the best recipe for happiness I've ever heard of.’ These aren't the words of a rich businessman, but of Jane Austen – author of Pride and Prejudice, among other works.

Nearly two centuries have passed since Austen's time, and a good income for women is still not a given. In 2022, the CBS (Statistics Netherlands) calculated that 44% of Dutch women are not economically independent.

That's about 1.6 million women who earn less than the minimum wage. Their purchasing power is partly dependent on a partner or the government.

Being financially dependent on a partner can be a choice. But if the financial support is suddenly withdrawn, the consequences can be serious. For example, in the event of a divorce, women lose on average a quarter of their purchasing power, while men's purchasing power improves on average.

Moreover, women in the Netherlands accumulate on average 40% less pension than men.

Jane would hate to hear that.

Part-time work, pay gap, Sullerot

Part-time work is often cited as the culprit these days. It is true that Dutch women work part-time more often than men.

But there is also still a wage gap: unequal pay for equal work. And women are more likely to work in sectors with poorer working conditions. Sullerot's law plays a role in this: the prestige of a professional group decreases when more women enter it.

And on top of that, women and men don't seem to be addressed equally when it comes to money.

Women and money: today's story

This has been shown by research conducted by the British Starling Bank, which analysed 300 articles in the United Kingdom. They discovered that 65% of the articles in women's magazines that discussed money portrayed women as people with spending problems. To become more financially healthy, they were advised to shop less, make small savings and earn a little extra, and even to seek financial support from someone else (such as a family member or partner).

Watching the pennies and finding a rich husband – that's not exactly a financially empowering message.

A similar study has not (yet) been conducted in the Netherlands. However, WOMEN Inc. does see that Dutch women are, on average, more concerned with money in the short term than with the bigger financial picture for later. They are in good control of their payment accounts and daily (smaller) expenses, but are much less preoccupied with finances for the future. Women are also more likely than men to indicate they find larger topics such as ‘retirement’ complicated.

Can we talk about serious money for a change?

Meanwhile, at our female Peakers events, we have noticed that there is a need for good conversations about serious money. On topics such as accumulating a pension, investing, raising finance, negotiating salaries, and so on. No silly tips on how to keep your so-called shopaholic tendencies in check, but ambitious discussions about financial choices.

We will now be making more room for that.

Peaks & the Table: a nourishing collaboration

Together with platform & the Table, we will host a dinner for women where money is explicitly on the table as a topic of conversation. ‘Money Talks’ is the name of the event: four women per table, good food and drink, and plenty of opportunity for great conversations about all things finance. It will take place on Wednesday 26 March at restaurant VESSEL in Amsterdam.

Do you think to yourself: ‘I want to be there’? The number of places available for the first dinner is limited, so you may not be able to join us this time. But don't worry, because just like the first investment that sets everything in motion, we see this dinner as the beginning of something greater. Our vision is to hold a whole series of dinners, throughout the Netherlands and beyond.

Would you like to join us at a future dinner? Sign up for the mailing list and we will keep you informed. Maybe we'll see each other at the table soon.