- One in 20 women who have gone through the menopause stopped working as a result…
- …with one in 25 women saying they’ve reduced their hours, according to recent research from AJ Bell Money Matters*
- A fifth of women say the menopause has impacted their confidence at work
- A further 12% say their performance had suffered
- Many more women resort to using holiday, sick days or even unpaid leave while they go through the menopause
Today is World Menopause Day and recent research by AJ Bell Money Matters highlights the financial impact the menopause has on women’s lives.
It is more important than ever that women going through the menopause are made to feel safe and secure by their employers, both through the policies in place to protect women in the workplace and by continuing to raise awareness of effects that the menopause can have on all aspects of a woman’s life.
Helena Morrissey, founding ambassador of AJ Bell Money Matters, comments:
“Having recently gone through the menopause, I found the findings from our research on this phase in a woman’s life totally relatable. The physical, mental and psychological symptoms (a daunting 34 possibilities) are now – thankfully – more widely talked about. But those symptoms can in turn have a significant adverse impact on our career and finances – something that’s much less discussed or understood.
“The numbers are stark. A fifth of women in our survey said that going through the menopause had impacted their confidence at work while another 12% said their performance had suffered. Almost one in ten suffered financial consequences, with one in 20 stopping work altogether while one in 25 reduced their hours. Others have used their holiday, sick days or taken unpaid leave to get through this difficult time. It seems that the media and celebrity focus on the menopause over the past few years hasn’t quite caught up with employers yet, with many women feeling they just have to cope by themselves.
“The onset of my own menopause unhelpfully coincided with both the Covid pandemic and a career switch, from a secure salaried full-time position to board roles. Although the timing of my ‘change’ was almost comically bad, I know I’m one of the lucky ones, making it through to the other side in one piece, financially and in body, mind and spirit. But the experience was disconcerting and showed me how nerve-wracking the menopause can be – and how damaging for our family finances. Of course, our survey shows that there are many financial danger points in women’s lives long before the menopause, with 60% of us never asking for a pay rise (and even then, only a third of us being successful) and just 30% of mothers returning to work full time after their second child. But if we’ve made it through all those danger zones to still be working when we go through the menopause, it’s a real blow that so many of us will suffer financially yet again.”
*Based on AJ Bell/Opinium nationally representative research of 4,000 UK adults carried out in June 2023.
About Money Matters by AJ Bell:
The Money Matters campaign was launched in 2021 and is led by Baroness Helena Morrissey, founding ambassador of Money Matters and founder of the 30% Club, alongside an all-female team from AJ Bell – including head of personal finance, Laura Suter; head of financial analysis, Danni Hewson; head of strategic planning, Emma Keywood; brand and sponsorship senior executive, Anya Gorton; and social media executive Rachel Peacock.
Money Matters exists to encourage more women to engage with their finances. The campaign has campaigned for inclusivity, with podcasts, articles, events and other resources all designed to help promote inclusivity when it comes to investing. Find out more here: https://www.ajbellmoneymatters.co.uk/