Equal Pay Day and Tax season are upon us, and all the news seems to be talking about is an upcoming recession and mass layoffs. That uncertainty is bound to leave many of us with feelings of uncertainty, discomfort, and worry. If you’re feeling this way, it makes sense. Please remember: you're not alone, your feelings are valid, and we’re here to help. While we understand that all people are affected by financial stressors, this blog will focus on the unique stressors faced by women today!

The Advice from an Anxiety Specialist in NYC, New York

First of all, your concern makes sense because the threat is real, especially for women and people of color. Overall, women and people of color are more likely to experience layoffs in the currently fumbling tech industry, showing that, regardless of all the work we’ve put in to smash the patriarchy and earn our rightful positions in the workforce, we’re still being undervalued. It also makes us wonder what exactly all of these companies were talking about when they made their statements about equity in the workforce during the protests of 2021. Women are also still facing the pay, investing, and confidence gaps that all play into gender inequity in the workforce.

Inequality in the Workforce: The Stats

• Women earned an average of 82% of what men earned in 2022, for both full and part-time work

• This overall pay gap has only increased 2% since 2002

• The wage gap is slightly smaller for women ages 25-34, who earn an average of 92 cents per dollar earned by a man 

• Many women report feeling pressures to complete responsibilities at home, which they attribute to their lowered pay at work

If you’re feeling the impacts of the pay gap and this potentially pending financial stress and unrest in the financial world or are a bit overwhelmed and wondering how this may impact you, you may be experiencing some symptoms of anxiety.

Some common symptoms of anxiety in women are: 

• Struggling to fall or stay asleep because of all the worries running through your head

• Your thoughts constantly jump to the worst-case scenario in situations

• Spiraling emotions that feel like they’re controlling you, not the other way around

• Feeling like you are always chasing perfection and still never measuring up

• Physical symptoms like headache, tightness in your chest, chronic pain, or digestive issues

Women Are Twice as Likely to Develop Anxiety Disorders

If you are having symptoms of anxiety, know you’re not alone. Women are twice as likely to develop anxiety disorders as men, and no, it’s not because we’re more sensitive. Women have to face the patriarchy at work and home, giving us double the burden. We are expected to play nice and be sweet but also stand up for ourselves and care for our families (that we’re responsible for creating and fostering), all while producing the same quantity of work for less money. This is no small task that society asks women to complete. It’s also not one you have to handle alone. For some tips for managing your anxiety, check out this blog we wrote about Taking Charge of Your Mental Health and Overcoming Anxiety.

Tools & elements to consider when dealing with financial stress: 

Knowing your worth as an employee:

Society loves to devalue the worth of women in all areas of life. We are expected to produce more for less and not have anything to say about it. In times of financial and job instability, it can be extremely important to have a solid grasp of what you bring to the table as an employee. Think of all the amazing contributions you’ve made in terms of both concrete and tangible tasks and in terms of interpersonal dynamics. Allowing yourself to see your worth, allows you to exude the confidence you deserve to have in the workplace.

Developing negotiation skills:

Women in the workplace have gained the reputation of either being too forward and cold or being too sweet and getting walked over. In times of financial stress, find your voice and use it. Ask yourself whether a man would be tentative to ask the questions or demand the respect that you’re asking for. If the answer is no, then what you want is valid.

Working with a Therapist for Anxiety Can Help

In therapy sessions, we often conduct role-plays to help clients develop and hone these skills. We can walk them through exactly what they would want to say to an employer or in a job interview to help them get the message across that they really want to display while acknowledging that we do have to tailor our approach to the unconscious biases others can have about women’s roles in the workplace. We can also help them navigate tough conversations ahead of time in a way that helps prepare them emotionally and relieves stress at the moment. 

Self-Confidence:

Self-confidence is an invaluable tool in work, finance, and life. You deserve to feel good about yourself, especially as a woman navigating systems that weren’t built for you and that you’ve had to work to overcome.

Some ideas to help build self-confidence can include: 

• Journaling about your values and what you bring to the table 

• Using positive self-talk regarding your skills, body, and personality 

• Reflecting on your achievements to celebrate how far you’ve come

• Working with a therapist 

Therapy, especially female-centered and feminist-oriented therapy like at the New York City Psychotherapy Collective, can be a powerful tool in developing, honing, and owning the skills you need to handle any and all stresses in your life. If you think therapy is right for you at this time, reach out to our team, and we can set you up with a therapist who has the unique skills to help you overcome any instability you currently feel in our financial world. 

Follow the steps below to get started:

• Click here to share some information about you so that we can match you with the perfect therapist for your needs.

• Have a low-pressure, 20-minute call with your therapist to make sure they are the right fit.

• Schedule your first session and start on your journey to feeling better right away.

We offer specialized services for related issues like Anxiety, Depression, LGBTQ Affirming Therapy, and Therapy Specifically for Young Adults. We can help you feel less overwhelmed, more relaxed, and more like the self you want to be.

Contact us here to get started today!