Last week, the World Economic Forum released the 2012 Global Gender Gap Report. It examined the gender gap in 135 countries based on four main criteria:
- Economic participation and opportunity, examining the wage gap and the ratio of men to women in high-paying jobs
- Educational attainment, examining achievement as well as access to all levels of education
- Health and survival, examining life expectancy and mortality rates
- Political empowerment, examining the ratio of women to men in government
The United States was ranked #17 out of 135.
The fact that women lag behind men in the United States may seem surprising because the life expectancy and mortality rate gaps here have nearly closed, as has the gap for education. The areas where American women are seriously behind men are in politics and in the workplace.
Gender Pay Gap Starts After Graduation
Additionally, the American Association of University Women released its own report in September, “Graduating to a Pay Gap.” It found that women who graduate from college are less likely than men to be employed one year after graduation, and those who are employed will make 82 cents for every dollar a man earns.
Key Findings
Because women make less immediately post graduation, their student loan burden is greater than for men. This means that a higher portion of women’s earnings goes toward repaying loan debt rather than to living expenses or savings.
The impact of the pay gap is felt not only right after graduation, but throughout a woman’s life. Because women make less than men throughout their careers, women are continually at a financial disadvantage for the entirety of their financial lives.
What Can Employers Do?
- Create transparency in pay structures
- Promote clarity in personnel evaluations
- Assess your company’s salaries by gender to determine any disparities, and take steps to correct them
- Learn about implicit biases at www.implicit.harvard.edu
What Can Employees Do?
- If you must take out a college loan, get as much information as possible on federal options over more risky private loans, and seek the lowest interest rates
- Choose your college major and occupation carefully to maximize earning potential
- Learn about average salaries for your occupation so you know what you’re worth
- Be willing to negotiate for better pay and benefits
If you feel that you have experienced workplace discrimination because of your gender, you may file a complaint or a lawsuit against your employer. Contact an experienced plaintiff’s attorney for guidance.
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