Pay Inequality Persists

pay inequality

Despite many of the advances women have achieved in the last century, such as obtaining the right to vote, they continue to lag men in how much they earn on the job. The reasons for this vary and may include factors such as taking time off to raise children.

The online magazine Slate recently released some findings related to women’s earnings based on the 2010 U.S. census. The publication’s team looked at the 50 states and numerous counties across America to develop a comprehensive map. The states where women fared the worst included Utah, Wyoming and Louisiana. The best states for female workers included Maryland, Nevada, Florida and North Carolina, where they tend to average three-quarters of men’s wages.

In Illinois, the average woman worker earns 66 cents for every dollar a man brings home. This ties Wisconsin’s average but ranks the state worse when compared with neighbors, such as Indiana, Missouri, and Iowa.

The Wall Street Journal published another take on similar data, stating that when one considers benefits, the disparity declines. In addition, presently, more men hold higher paying positions, which may skew the data.

Perhaps in the future, women will make up the pay gap, especially considering that the majority of young people now attending college are women. Currently, more than 20 million women hold bachelor’s degrees, while nearly 19 million men do. Experts expect women to continue to earn greater numbers of bachelor’s and advanced degrees in the upcoming decades.

Disclaimer: The views expressed in this article are the opinions of the author and should not be interpreted as individualized investment advice. Investment objectives, risk tolerances and the financial situation of individual investors may vary. Please consult your financial and tax advisors before investing.

Susan Carr-Templeton

About Susan Carr-Templeton

Susan Templeton is the founder of Stafford Wells Advisors, a wealth management firm serving individuals, families and businesses and advising workplace retirement plans. Stafford Wells was founded in 2008 with the mission of delivering independent, complete, unbiased investment and planning advice, free of any conflicts of interest. Susan Templeton has more than 20 years experience in investment management. She received her B.S.B.A. degree in marketing from the University of Denver and her M.B.A. from the University of Chicago. Susan is a trustee for the Advocate Foundation where she chair’s the Planned Giving Committee and is a member of the Investment Committee. Susan serves on the investment committee for the Visiting Nurse Association (Chicago) and is a former trustee of the Village of Oak Brook Police Pension Plan.