You would think by 2012 wages made by men and women would be equal, considering the fact that they both pay the same university and college tuition, carry the same debt load from that tuition and that they are living in a time where they both should have equal rights. But nope! They are still paid less, despite the passing of the Lilly Ledbetter Fair Pay Act passed in 2009 by President Obama, which states:
The 180-day statute of limitations for filing an equal-pay lawsuit regarding pay discrimination resets with each new paycheck affected by that discriminatory action. The law directly addressed Ledbetter v. Goodyear Tire & Rubber Co., 550 U.S.618 (2007), a U.S. Supreme Court decision that the statute of limitations for presenting an equal-pay lawsuit begins on the date that the employer makes the initial discriminatory wage decision, not at the date of the most recent paycheck.
Women are still making less money than men. In the infographic below it states that women on average make 20 percent less than their male counterparts in every industry. This is despite the fact that there are more women than men going to university and that many women have higher GPA’s. Increasing wages for women will boost the national GDP and decrease the rate of poverty.
The gender gap affects many things, including the wage men and women make for their first job, which is $42 918 for males and $35 296 for females. That is a $7600 dollar difference, despite the fact that 57 percent of college and university students are female. Moreover, both women and men pay an average of $90 000 in tuition fees for a 4 year degree in the US and end up with the same debt load of $22 900. Women also achieve higher GPA’s of 3.1, while males only receive a GPA of 2.94 on average. Yet, men are still making that $7600 difference in salary at the beginning of their careers, making more than women no matter their education level.
In 2011, women made 17.8 percent less than men in all industries. Because of the gender gap, women will miss out on average of $431 000. Only 3 percent of all CEOs in the US are women. And the gender gap is even wider across different ethnicities of people. It will take another 38 years before women make a wage equal to their male counterparts and on the day that women’s wages do reach parity with males, the US GDP will raise 9 percent and add $1.3 billion to the economy, the same as adding twice the revenue of the state of Texas. The poverty rate of single moms will lower 50 percent and the poverty rate for dual income families will decrease by 20 percent.
So will women’s wages ever reach parity with men’s wages? Only time will tell. In the article, Why Do Women Still Earn Less than Men, Analyzing the Search for High Paying Jobs, one point the writer made was that the majority of women seem to go into different professions then men. Research indicated that women were less likely to go into wall street financing jobs, somewhat less likely to go into consulting jobs, and were more likely to go for jobs in middle management. Women might choose different jobs because of gender role socialization. For example, if women have different roles in the workplace than men, they may be more likely to search for jobs that give them different rewards for their work such as pay, intellectual challenge, flexibility, and work/life balance. Not to mention women often take more time off than the average man to have babies and raise their children.
Women are still earning less when they are working in the same fields as men. Will they ever achieve the same pay rate as men? This gurl hopes so. We may choose different jobs than men, but we are equally as hard-working and deserving of a fair wage.
LearnStuff was kind enough to share this infographic with us to elaborate on the gender gap. You can learn more about LearnStuff here.