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- [Sallie] The moment for me when I became

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a raging feminist was
really the financial crisis.

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And while we've had so much
conversation about leverage,

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too much leverage and greed and so on,

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I just don't think the
conversation is complete

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without talking about lack
of cognitive diversity.

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(energetic, bouncy music)

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- [Stephanie] The research
also suggests that

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it can't just be one
diverse voice in the room.

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- [Sallie] No.

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- [Stephanie] It has to be in the case

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of boards of directors and women.

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Two or preferably three, in
the case of people of color...

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- [Sallie] Yeah.

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- [Stephanie] It's the same way.

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And as you pointed out, things
seem to be going backward

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in the financial industry.

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What's the solution?

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- [Sallie] The only thing
I've seen work so far

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is the CEO decides to break the wheel.

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That, forget about, "We're
staring a diversity group," and,

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"We're gonna, you know,
have a sponsorship program."

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It's a CEO like a mark banging off.

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It's just like done.

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Right, or you know an Ajay Banga,

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who takes that position.

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Or a Dan Schulman at PayPal.

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You know, it's a CEO who just says,

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"I'm gonna drive this company."

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Women earn in corporate
America 80 cents to the dollar

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of a white man, less of course

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if we're women of color.

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But that means we walk into
corporate America everyday,

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and you have a 20% tax.

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When raising venture capital
dollars, you have a 98% tax.

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The number one reason
millennial women leave their job

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is not flexibility or work-life
balance or having a baby.

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It's for money.

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And so, I've been hoping over time

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that if women are going to, you know,

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go to the sales forces or the Ellevest

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that do not have the gender pay gaps.

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It would force other companies
to compete for talent.

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To closers, it hasn't happened yet.

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But I'm not giving up hope,

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and I do hope the one thing that changes

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is that these young people
have more options than we did.

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You know, with us, old ladies, in the day,

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oh, you know, you didn't like the company

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you were working at,
what were your choices?

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Go with not much information
to another company or go home.

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- [Stephanie] Mm-hmm.

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- [Sallie] Today, you can find
out a lot more information

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on a company before you go there.

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Thank goodness, you know, social
media and all the websites

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have ranked these companies et cetera.

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Look up and if you don't
see anybody thriving,

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who you want to be...

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You may be able to change
the culture along the way,

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but it's a lot easier when you look up,

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and you see yourself in five
years, ten years, twenty years.

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And in this day and age,
if companies don't get it,

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then just like, you know,
(groans) go to birds.