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Home / Finance News / Industries With The Largest Income Gaps Between Men And Women

 

Income gaps between men and women performing the same jobs has been a news item for several years. Decades actually, but it has become increasingly more prominent. Being an eternal pessimist, I had trouble believing there is truly a large income gap that could be traced directly to gender, not in this day and age. Don’t get me wrong, I do not wear a loincloth and carry a club like many Neanderthals, I was just convinced that women had achieved income equality for the most part. So, the pessimist in me turned to data such as reported income statistics, etc. I found that there are many industries that have glaring income inequality. Here are some of the most shocking.

  • Drivers/Truck Drivers: women make approximately 73 percent of what men do within the driving industry. That translates into an average weekly income of just $545 compared to $739 for men.
  • Human Resource Manager: this is a job where workers may have varying levels of education; however, when the same degree is compared women make 71 percent of what men do. That translates into an average weekly pay of $1,300 compared to $1,827 for men.
  • Retail Sales: the average retail worker is underpaid at best, but women only make 70 percent of what men do. That means women make $491 compared to the $698 per week that men take home.
  • Executives: executive positions, at least at higher levels, are negotiated positions. Despite the negotiation process women still only make 70 percent of what a man doing the same job does. That translates into $675 a week less in take home pay.
  • Financial Manager: financial managers are tasked with helping the company they work for meet its financial and investment goals. Women outnumber men within the industry, yet they are paid just 67 percent of what their male counterparts are. That means a woman makes $1,127 per week, while her male co-workers are bringing home $1,671 for the same week’s work.
  • Doctors: women make just 62 percent of what men do. This is hard for me to understand. A doctor sets their own rates and insurance companies compensate them based on services rendered, not gender. One of the easy to see differences is that women tend to specialize in the lower paying areas of medicine like pediatrics and general practice, but that does not fully explain the gap in income.
  • Personal Financial Advisers: in 2014, this group had the largest income disparity based on gender. Women within the industry average just 61 percent of the income of men. The gap is hard to understand for several reasons, but two stand out. First, the gap has inexplicably worsened over that past decade. Secondly, the income within the field is heavily based on commissions and sales bonuses. There are no statistics to show if women do not meet the bonuses, sell the right portfolios, or if the bonus levels are intentionally biased toward men.

One last income gap that is hard to explain: bartenders. Female bartenders make just 72 percent of what male bartenders do. What?!? Since this is a very tip heavy industry, does that mean the average person intentionally tips men more than they do women? If so, then we should all point the income inequality finger at ourselves.

I would like to hear your thoughts as to why there are income gaps based on gender. Please let me know your opinions in the comment section or on Facebook.

 

About the author: Jerry Coffey

 

Jerry Coffey spent many years in a debt-riddled gray area somewhere between broke and desperately broke. His seemingly endless need for more and more cash led him to payday loans, repossessions, bankruptcy, and depression. After years of the same financial style, he heard a piece of advice that inspired him to find a way to change. The advice: ''The very definition of a fool is someone who continues to do the same things, but expects different results.'' This led him to a much more frugal lifestyle that sees all of his bills paid on time and a growing savings account. Even the seed of a retirement account has begun to sprout.

 

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