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US NEWS: All Industries Continue To Pay Women Less

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Women get paid less than men in every industry in the United States, says PayScale in a report issued Thursday.

PayScale, a web-based resource on jobs and salaries, issued the Gender Pay Gap, which compares salaries paid across industries, in different geographic areas and by ages, gender and marital status. The data is from 1.4 million people who took an online survey over a two-year period of time and is weighted to take into consideration length of time on the job, company size, management responsibilities and skills.

The survey found there is no industry where women are paid equal to or more than men in similar positions. Overall, women are paid 2.7 percent less than men when they have the same level of experience.

The technology industry does the best at equalizing pay with the gap narrowed to a 1.4 percent difference. Farming, fishing and forestry occupations have the largest overall gender pay gap at nearly 10 percent.

For the financial services and insurance industries, the pay gap is 4 percent putting it fourth on the list of 20 industries.

According to PayScale, married men have the highest median salaries, $67,900 for men with children and $60,800 for those without, compared with single moms, who have the lowest median salaries at $45,500. Male salaries continue to increase until they reach the age range of 50 to 55, with a median salary of $75,000. Female salaries plateau much earlier, between the ages of 35 to 40, with a median salary of $49,000.

Getting more education does not seem to level the playing field. Among Ph.D. holders, women are paid 5.1 percent less and among MBA holders there is a 4.7 percent gap. Pay gaps also get wider the higher a person goes on the corporate ladder. Male executives earn 6.1 percent more than women executives.

PayScale found that women are more likely to say their jobs are meaningful and satisfying, but also more likely to say that their jobs are stressful. Women are also more likely to report that they are underemployed

 

– Financial Adviser


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