Ever wonder why there is such a thing as a Women’s March like the ones being held around the country in recent years? One HUGE reason is that even though that it has been over half a century since the US passed the Equal Pay Act, yet here we are with women STILL facing a serious pay gap pretty much across the board.
According to the most recent studies available, full time working women are earning 80.7 cents to every dollar their male counterparts are making. Not only that, but data from the U.S. Census Bureau tells us that women are bringing in close to 10K less than men in annual earnings, as well.
The Institute for Women’s Policy Research have studied this as well as other women’s policies and they have found that a balanced and equal system that does not show any differences in earnings between men and women is not likely to occur until at least the year 2059.
Keep scrolling to see six charts that will show how you and your family are being affected by the gender pay gap.
1. The gender wage gap differs greatly in each state.
While the average pay gap across the U.S. is around 19%, that can vary greatly from state to state. For instance, in Louisiana, that gap grows to 31.2%, the largest in the country while California sees the smallest gap at around 10%. Sadly, in 28 states, that’s more than half of the country, the wage gap is actually LARGER than the average. While laws DO exist to prevent this type of discrimination at the federal level, we still see an atrocious difference at the state level.
2. Cities show a vast difference, particularly for people of color.
According to a report from the American Association of University Women, and another study from Business Insider, 25 major US cities show a significant pay gap based on gender, and that gap gets larger for women of color. Another shocking but true statistic shows that the largest gap is that between the salaries of white men and those of Hispanic women- that number comes in at 53%.
3. The gap between white men and women of color is the largest across the board.
Of course it is no surprise that white men make up the largest portion of the work force but what IS a surprise is how much more money they are earning compared to black and Hispanic women. There are differences in what ALL women make in comparison to men, however, with Asian women coming the closest, making 97% of what men do. White women make 79% of what men do while black women and Hispanic women come in at 67% and 58% respectively.
4. Men with children actually get a BOOST in salary, while women’s salaries stay the same or get WORSE.
Women who return to the workforce after having children sometimes return to less wages while men who return will often see a jump in earnings. According to a Senate report, it seems that women face what is called a “mommy penalty” perhaps because some employers view women who enter motherhood as having less commitment to their professional development but by the same token, MEN with children are viewed as MORE dependable. As ridiculous as this sounds, it is true enough to reflect the above gender wage gap.
5. Over the course of a lifetime, women are earning less money overall than their male counterparts.
Recently, Business Insider conducted a study of the Census data from Minnesota’s Population Center’s IPUMS program and discovered that the average full-time, year round female worker will ALWAYS earn less than her male counterpart. The gap is closing in for the younger generations but it still exists. And in the current climate, women over the age of 75 are TWICE as likely to be living in poverty.
6. There is stark evidence of bias when looking at the number of women in promoted to the higher levels in business.
In reality, despite making up a powerful population of corporate America, there are still relatively few women CEOs or working on the C-Suite level. Studies from McKinsey & Co. and Lean In show that while men are rising in the ranks to those power positions, women are getting left behind, and NOT to their own fault. Another study shows that while women are more likely to ask for a promotion they are still less likely to get it when stacked up against a male counterpart.