New data show the salary gap between men and women is no better the higher up you travel on the totem pole. Female CEOs, lawyers and doctors earn a little more than $100k a year — 25% less than their male counterparts, according to a new report by the Institute for Women’s Policy Research. In all types of work, women earn 77 cents for every dollar a man earns.
The gap gets even wider when you factor race into the equation. Not only to women make less than men, minority women make the least of every category.
For example, in 2004 the median income of Full-Time-Year-Round male workers was $40,798, compared to $31,223 for FTYR female workers.
Women have made many advances toward economic equality, but gaps in income between men and women persist and only multiply over time, as the following numbers from Jessica Arons’ Center for American Progress Action Fund report, “Lifetime Losses: The Career Wage Gap” show.
$434,000: The median amount that a full-time female worker loses in wages over a 40-year period as a direct result of the gender pay gap, also known as the “career wage gap.”
As women, on average live longer than men, this is money which should be going to into a retirement account, but that women will never see.
However, with minority women catching up on college degrees and opening businesses at a rate never before seen, the gap will hopefully start to close.
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