In The Community
Nathalie Molina Niño has never been one to shy away from breaking barriers, and now, she’s focusing her attention on a new mission: demystifying corporate boardrooms for women, especially Latinas. Molina Niño is the President of Known, an asset management and financial services firm, a veteran tech entrepreneur and builder capitalist, and a board member at the iconic lingerie Brand, Hanky Panky, and others.
Like many corporate boards, Hanky Panky hadn’t publicly disclosed its board composition until recently. After the brand survived the challenges of the COVID-19 pandemic, Molina Niño decided it was time for more women, specifically more Latinas, to know what it means to be on corporate boards.
Coincidentally, the decision to finally be more vocal about this topic aligned with the start of Hispanic Heritage Month, which served as the perfect kick-off to the work.
"Something that rarely gets talked about and I think almost gets kept opaque by design is boards,” she explains in a recent Instagram announcement. “[This Latinx Heritage Month], that’s what I’ll be talking about.” Her goal? To equip more Latinas with the knowledge they need to navigate onto for-profit boards, where they can thrive and build multi-generational wealth.
For-profit corporate boards often feel like an exclusive club. And in many ways, they are, especially for Latinas, who hold the smallest percentage of board seats in Fortune 500 companies compared to other racial groups. According to the latest report from Latino Board Monitor, while Latinos hold 4.1% of these board seats (compared to 82.5% held by white people), only 1% go to Latinas. Molina Niño, a first-generation American of Ecuadorian and Colombian descent, is part of this boardroom minority.
When asked about her experience as a Latina board member during a recent Zoom interview, she said, “It’s been lonely. There’s not a lot of Latinas on boards.” She went on to explain that even serving on boards of Latina-founded businesses gets lonely because, “A lot of the times, people who serve on their boards represent their investors and, as a result, [...] you still don’t see a lot of Latinas on those boards.”
This lack of representation drives Molina Niño’s determination to increase Latina presence in corporate boardrooms. By sharing her insights, she hopes to give Latinas a roadmap to claim their seats at the table. “If you don’t know where to go, it’s impossible to figure out how to get there,” she says.
The Road to the Boardroom
Getting onto a for-profit corporate board isn’t an overnight achievement, but it’s not an unattainable dream either. People often think you need to be a CEO or have a certain type of background, but that’s one of the biggest myths about boards in Molina Niño’s experience. What they’re really looking for is expertise — whether that’s in finance, marketing, sustainability, or even technology. If you have that expertise, you’re already an asset. It’s simply a matter of which road you should take.
Understanding what boards are and how they operate is key to unlocking opportunities. For-profit boards serve as the governing body for companies, overseeing direction and financial stability, and guiding CEOs and executives in decision-making. But Molina Niño emphasizes that not all for-profit boards are created equal.
“There are two kinds [of for-profit boards] [...]. There’s the publicly traded business board and then, on the privately held side, there are, I would argue, two types of boards [...] the traditional business board and the venture-backed business board,” explains Molina Niño. Traditional businesses are often family-owned or long-established and may only form boards to meet requirements, like securing financing or transitioning through an ESOP. Venture-backed boards, on the other hand, are typically filled by investors who hold major stakes in the company.
According to Molina Niño, understanding the difference between them is how you can create a successful strategy. With publicly traded business boards, the whole world is privy to them, so, “The way that you get in there is a little bit more transparent. Sometimes those publicly traded companies will hire a recruiter to help them find new board members,” explains Molina Niño. For private companies, on the other hand, there’s no legal requirement to make announcements. As a result, most people don’t know anything about them or their inner workings.
“Usually what happens in traditional businesses that don’t have venture-capital investments is that the Founders, Executives, or the board members, if one existed already, they usually go to their friends,” and people they deem experienced to fill board seats. In other words, it’s the founder’s decision, and that’s an entirely different approach than hiring recruiters. When it comes to venture-backed business boards, the seats on the board are filled by whichever investor writes the biggest check.
This is why an understanding of the different types of boards and acknowledgment of their own strengths is what will help Latinas define a sound strategy. Whether that’s working with a recruiter, networking and connecting with founders to build trust, or making the biggest investment.
The Path for Latinas
For Molina Niño, the key to getting more Latinas into corporate boardrooms is education. Knowing what a board looks like and how it functions is how you can position yourself to get on it. In openly talking about this, without the mystique it’s usually shrouded in, Molina Niño is providing women, especially Latinas, with invaluable insights. “If we had Latinas understanding what are the three types of for-profit boards I think that, on their own, they would be able to figure out what their best chance is and adjust their careers to make themselves more competitive,” states Molina Niño.
When asked about the impact of increased Latina representation in boardrooms, Molina Niño flips the narrative. “Boards don’t help Latinas by offering them seats; Latinas help businesses thrive by being on their boards,” she says. “The whole point of sitting on a board is that you have experience and expertise, and as Latinas, you also have some cultural experience that everyone wants. [...] At the end of the day, we [Latinas] have to realize that we have a ton to offer and we have to be selective about where we put that expertise,” she explains.
As demand for access to the Latina consumer rises, Molina Niño predicts that more Latinas will find themselves recruited into boardrooms. But she’s not content to sit back and wait for that moment. By openly sharing her journey and insights, she’s making sure other Latinas know their worth and have the tools to claim their place at the table. “I realized that quietly being on boards that helped me personally is not helping other Latinas. [...] I was lucky enough to have friends who could advise me and share their experiences, so that’s why I’m doing this,” she stated.
With Hispanic Heritage Month as the backdrop, Nathalie Molina Niño’s mission is clear: “My goal is just to give Latinas enough information so they can make a plan for how to eventually get on a board that they’re paid to be on and that will eventually help them build generational wealth.”
- Must-Read Books for Latine Hispanic Heritage Month ›
- Empowering Latinas: 5 Leaders Transforming Communities ›
Latino history is vital to the American narrative–there’s no America without Latino contributions. Despite this, Latino storytelling and history are increasingly being sidelined in educational institutions. The issue deepens when we look at the emerging trend of book banning.
What Is the Modern Book Ban?
Book banning is the act of removing books from reading lists, libraries, or bookstores based on content disagreements. Often done under the pretense of safeguarding children, most of these challenges come from parents and library patrons. However, elected officials, school boards, and even librarians can also be champions of imposed ignorance. After all, they know knowledge is power.
In March 2024, the American Library Association (ALA) reported that “the number of titles targeted for censorship at public libraries increased by 92% [in 2023] over the previous year.” This is alarming for multiple reasons:
- Censorship: Book banning is fundamentally a form of censorship. Although the First Amendment protects against government censorship, private individuals or organizations face limited restraint. This makes book banning a primary example of legal censorship in the U.S.
- Democracy at Risk: At the core of democracy is the free exchange of ideas. By constraining this, we challenge the principles on which the U.S. was built. Censorship often paves the way to tyranny, allowing a small group to dominate the narrative.
- Stagnation: Book bans impede societal progression by avoiding challenges to prevailing beliefs. To quote English writer George Orwell from his eerily prescient dystopian novel “1984”: “The best books are those that tell you what you know already.” Do we aspire to a society that shuns diverse thought? Book bans lead fully in that direction.
- Marginalization: Such bans further alienate underrepresented communities. With Latinos already underrepresented in literature, these bans exacerbate the problem.
Latino Representation: The Understated Crisis
Images shared by projectpulso on Instagram
Even beyond Latino literature, there's a broader attack against critical theory. This crusade aims to stifle discussions on racism, sexism, and systemic inequality. In a single school year, 1,477 books faced bans, according to PEN America. A startling number of these pertained to LGBTQ themes, protagonists of color, race, and racism.
A Spotlight on Banned Latina Authors
Amidst the unsettling rise in book bans across the U.S., Latina authors have found themselves at the epicenter of this censorship storm. These authors not only highlight the complexities of Latino heritage but also bridge gaps in understanding, creating stories that resonate across boundaries. Many invaluable works by Latina authors have been banned, including:
- “The House of the Spirits” by Isabel Allende: Spanning generations, this saga chronicles the lives of the Trueba family in Chile, accentuating the mystical powers of its female characters. Challenges against it cite reasons like its "pornographic" nature and alleged attacks on Catholicism.
- “The House on Mango Street” by Sandra Cisneros: Through vignettes, this novel paints the life of Esperanza Cordero, a young Chicana in Chicago. Bans have been enforced based on claims that it instigates skepticism against "American values."
- “Out of Darkness” by Ashley Hope Pérez: Set against the backdrop of 1930s Texas, this novel delves into the love between a Mexican American girl and a Black teen. Challenged for its graphic nature, it's deemed "sexually explicit" and has earned a place on the Top 10 Most Banned Books list.
- “The Poet X” by Elizabeth Acevedo: The narrative revolves around 15-year-old Xiomara, who channels familial tension into her poetry. Accusations against it range from being "anti-Christian" to violating religious safeguards.
- “How the Garcia Girls Lost Their Accents” by Julia Alvarez: This novel charts the journey of the Garcia sisters, uprooted from their Dominican heritage, as they grapple with a starkly contrasting life in New York, touching on themes of identity, family, and culture.
- “Like Water for Chocolate” by Laura Esquivel: This enchanting novel narrates the intriguing history of the De La Garza family in Mexico, where love, tradition, and magic blend seamlessly. It delves deep into themes of forbidden love, family obligations, and the transformative power of food.
- “Bless Me, Ultima” by Rudolf Anaya: Set in New Mexico; this narrative introduces us to Antonio Marez and Ultima, a healer. As Antonio steps into manhood, Ultima becomes his guiding light, illuminating his path through childhood bigotry, familial crises, and the mysteries of spirituality.
The increasing trend of book banning, especially of Latino literature, is a pressing concern. Not only does it threaten our democratic principles and societal growth, but it also amplifies the marginalization of already underrepresented communities. Our society's richness lies in its diversity, and by stifling these voices, we risk losing an integral part of our narrative. It's time to reassess and recognize the value of all stories, regardless of their origin.
Every year on June 6, the U.S. celebrates Higher Education Day, a day dedicated to helping students prepare for their transition into higher education. For many, it’s also a day to celebrate the fact that they even had the opportunity to reach higher education in the first place. Not all bright and education-hungry people have that privilege; Latinos chief among them.
For Latinas, higher education is a particular source of pride because their numbers have been steadily growing. According to a recent Pew Research Center report, the number of Latinas earning advanced degrees increased by 291% between 2000 and 2021. These findings were based on data from the U.S. Census Bureau.
A more recent analysis from the UCLA Latino Policy and Politics Institute revealed that the percentage of Latinas with a bachelor’s degree or higher almost quadrupled between 2000 and 2021, going from 5.4% to 20%. This analysis also found that Latinas are more likely to have a bachelor’s degree or higher than Latinos, and this is consistent in all age groups.
The analysis also showed that Latinas are more likely than Latinos to hold a bachelor’s degree, regardless of age group, country of origin, veteran status, or English proficiency. Younger generations of Latinas are also more likely to pursue higher education than older generations.
Even though the number of Latinas in higher education is rising, their wages are not.
The wage gap persists and having a bachelor’s degree or higher doesn’t guarantee that Latinas obtain fair wages. According to the same analysis by the UCLA Latino Policy and Politics Institute, census data shows that Latinas with bachelor’s degrees or higher are making an average of $26 per hour. Latinas make $14 less per hour than white men with a similar education and $6 less per hour than Latinos with a similar education.
The average Latina loses over a million dollars in income throughout her career due to the wage gap. So it’s not just about individual paychecks, it’s about the long-term systemic impact of this inequality. The wage gap remains a serious economic issue for Latinas. Even as their presence in higher education and degree attainment continues to rise, they’re still a long way from equal pay.
Why Does the Wage Gap Persist Even Through Degree Attainment?
The reasons are usually systemic and individual racism and sexism in the workplace. Bias against Latinas is found at all levels of the professional ladder, where they’re stereotyped as less competent or intelligent than white men or women both because of their gender and their race. At a UCLA Latina Equal Pay Day conference in 2023, Jessica Ramey Stender, Policy Director, and Deputy Legal Director at Equal Rights Advocates, stated, “Latinas face double discrimination based on both gender and race, so a lot of the issues that we see that rise and cause the wage gap are around discrimination, a lack of access to adequate supports in the workplace,” reported ABC7.
It’s more essential than ever for Latinas to advocate for themselves in the workplace, but more systemic change needs to happen before we see any results. Even if Latinas have the credentials and achievements to back up their assertive requests for promotions and raises, they’re still 29% less likely to get them than white men.
This is the broken rung in the ladder that only seems to exist for women, specifically women of color, and it will take more than individual self-advocacy. It will require teamwork and a push to change the status quo.
- These 5 Latinas Are Helping Latinos Tackle the Wealth Gap ›
- Working Hard but Earning Half: The Wage Gap Reality for Many Latinas ›