Today I Read that women need one extra degree to make the same as men
Last month, Money magazine explored the wage gap between women and men as it relates to education. Based on their review, women require an additional degree to achieve the same earnings as men.
Quick Summary: A Georgetown Center on Education and the Workforce study revealed that men are consistently paid similarly or more than women with additional degrees. Women with an associates degree make $4k less than men with only a high school diploma; women with bachelors degrees make only $2k more than men with only an associates degree; and women with a masters degree or higher make $4k less than men with only a bachelors degree. The study notes that 8 cents, or 41%, of the 19 cent gender gap has no obvious rationale. Possible explanations include subconscious biases and discrimination.
Big Takeaway: Regardless of the industry, there is an earnings gap between women and men. For example, in early childhood education which is 96% female, men have a 40% earning premium.
Something I did not know: Close to 75% of those who earn over $100k annually are men.
Makes me feel/think about: The data is appalling and the systemic explanations are getting old! There is no reason that a woman should be getting paid less than a man with the same background and experience- let alone LESS! I am unsure of how to tackle this inequity. Not asking for salary history is certainly a start, but salary equity initiatives- in which everyone in the same title with the same level of experience is paid the same- should also be a part of it. Salary transparency is also really helpful- I am a big proponent of people and companies openly discussing salaries and raises/bonuses. If we're all in the dark we can't advocate for ourselves or each other.