So far, in 2021 women have earned the same wage that men have earned in 2020. Forbes predicts that even though the wage gap is narrowing, it will exist until 2059. There are a couple of listed reasons as to why the wage gap is still a thing:
1. Raw vs. Controlled Wage Gap
The difference in the raw wage gap is 18%. This means that we are just comparing the median salaries of men and women. However, when we include factors like education, experience, location and industry, this number shrinks dramatically. The controlled wage gap is only 2%. This can be a significant amount of money when we think of the time passing by. This can also be increased when new bosses make a decision as to what the new salary is based on previous data. What are the other factors?
2. Why does it still exist?
There are other reasons that have been referred to by the OECD paper as "glass ceilings" and "sticky floors." "Glass ceilings" refer to the obstacles that women encounter when applying for jobs. This may include care taking and house work that may prevent promotions. In contrast, sticky floors are the initial obstacles in the start of women's careers. This includes the initial precautions that employers might take and the presumptions that women are less competent. Forbes states that 60% of the wage gap is due to glass ceilings and 40% is due to sticky floors. Women also have to overcome conscious and unconscious bias. Women also sometimes aim for lower-paying jobs. Women also tend to do 30% more house work than men.
3. Corona virus on the Wage Gap
At first, it looked like the wage gap was narrowing from 2019 to 2020 from 18.6 to 17.7% but this was simply because more women with lower-paying jobs lost their occupations. This also leaves a gap in their careers. With harder barriers due to the pandemic and the gap, women tend to accept lower-paying jobs as of today.
4. How to Fix This!
- Share wage and benefit with other employers to exclude discrimination!
- Prohibit employers from using salary history.
- Have companies review internal compensation regularly.
- Eliminate salary negotiation.
For more information, check other blogs!
A citation at the end of it does not detract from the fact that it is essentially a 'Copy and Paste' of that entire article, you even used the same picture, and didn't attribute it to the correct sources. ffs.