Wage inequality continues to be a plague in society today, impacting women not just in the entertainment industry, but worldwide. Data only tell you half of the story. The real weight of this difference is best illustrated through the lived experiences of women who have experienced that inequality on the ground. We’re grateful that this article provides a platform to these voices. It brings their stories to life and puts a face to the human side behind the statistics. It is important to us that everyone, and especially women and non-binary people, are compensated legally and equitably for their work. We encourage honest conversations that push equity and transparency to the forefront of workplace conversations.
The Unseen Reality of Wage Inequality
Wage inequality by gender and/or race can affect people in ways that are sometimes invisible on the surface. Women may find themselves earning less than their male counterparts for the same work, facing subtle biases in promotion opportunities, or being undervalued for their contributions. The ramifications of these experiences often reverberate deeply into their financial security, professional advancement and broader feeling of value.
Personal Accounts of Disparity
One woman even told us how she was offered a full-time youth pastor position making a little over $30k a year. Her then-fiancé, now her husband, possessed a ministerial license with the church—though she did not. As a result, he had taken home much more than she had. This goes to show just how deeply rooted gender-based pay disparities are— even religious organizations aren’t immune.
A third woman told us her shocking tale. What she discovered was that she was making $25k less in base salary than a male counterpart who was performing the same role at the same tech company. Plus, she was awarded about $20,000 less in restricted stock units (RSUs). This shocking example goes to show how wage inequality can be found even in the highest paid industries lauded for their progressive ideals.
A third woman found out that she and a male colleague would split the former employee’s salary. Collectively, they will shoulder the enormous weight of the role. This also means that the position has not been invested in sufficiently. As a result, it can be detrimental to female talent by underappreciating the value of both men and women’s contributions.
One woman who testified described working at a church. By the end of her tenure, she was making $24,000 but was still at a 20% pay disadvantage compared to her husband who started on a similar career track. This case illustrates how deeply ingrained biases are able to cement long-term wage disparities, even when women have similar skills and experience.
One woman recounted her disappointment after discovering an “unpaid” teacher training pipeline. Her younger, less qualified male coworker was paid to go through the same training. Subtle discrimination is key to understanding wage discrimination. This happens even when women are apparently “playing on the same level.”
These lived experiences and testimonies showcase the complexity of wage inequality and how it affects the lives of women. While these statistics are stark, they serve as a reminder that the problem is not just about data. It is the result of our children’s lived reality.
Factors Contributing to the Wage Gap
A host of economic and social circumstances explain the stubborn wage disparity that refuses to shrink between men and women. These are all rooted in societal expectations, structural workplace discrimination and systemic inequities. Being mindful of these factors will be essential for crafting the most effective strategies to close the workforce gap.
Societal Norms and Expectations
As with domestic responsibilities, societal norms and expectations regarding women’s work-family balance play an important role in affecting women’s occupational choices and career progression. Employers, coworkers, and society in general tend to expect that women will be the primary caretakers. These assumptions can lead to discrimination in hiring or in promotion and pay decisions.
Workplace Biases
Conscious and unconscious workplace biases play a role as well in widening the wage gap. In addition, women are more likely than men to report that employers discriminate against them. Indeed, 61% of women cite this false belief as the primary cause of the gender pay gap. Whether it’s intentional or not, these biases manifest in several ways. For example, they fail to credit women for their work, pass them up for promotions, and pay them less than men.
Parental Expectations and Education
Additionally, parental expectations influence the children’s career aspirations as well as their educational performance. Third, parental expectations have a huge impact on performance. They are one of the many factors that determine their children’s self-confidence, resulting in higher test scores and ultimately higher earning potential. After the last census, women’s educational attainment exceeded men’s for the first time. Yet, due to a persistent wage gap, the claim that education alone can solve this disparity proves false. These societal stereotypes around women’s roles and their role in society limit the opportunities available to them. That undervaluing leads to lower pay, including in male-dominated professions like computer programming.
The Intersectionality of Wage Inequality
Even wage inequality is a complex issue. It tends to be compounded by other discrimination—including racism and ethnic bias. Women of color, especially, experience distinct challenges as employees that create even deeper wage gaps.
Occupational Segregation
Occupational segregation, in which women of color are overrepresented in low-wage occupations, is another major cause. Differences in culture, immigration patterns, and generational wealth affect the occupational choices and career advancement of women from different racial and ethnic backgrounds. These challenges, compounded by intersecting gender, racial and ethnic biases, present tremendous obstacles to achieving equal pay and upward mobility.
Wage Gap by Race and Ethnicity
Native American women face a significant wage gap, but timely research is challenging given the lack of data available. Asian American and Pacific Islander women additionally experience a wage gap, with Asian Americans and Pacific Islanders earning different wages depending on ethnicity. Chinese women do least bad in comparison though, bringing home on average $1.03 for each dollar their white, non-Hispanic male counterpart makes. By comparison, women in Nepal make just $0.54. These startling statistics underscore the need to disaggregate data in order to get a clearer picture of the unique challenges different groups of women experience.
Strategies for Closing the Wage Gap
To address wage inequality, we should adopt a more comprehensive approach. This means, among other things, strengthening equal pay laws, increasing enforcement efforts, and adopting policies to address and rectify occupational segregation.
Strengthening Legal Frameworks
Continuing to strengthen equal pay laws will help make sure that women are being paid what they deserve. Compensation equal to their male counterparts. That means closing gaps in current law and passing new laws to make pay discrimination based on sex illegal.
Boosting Enforcement
Boosting enforcement budgets significantly for agencies such as the EEOC and OFCCP at the Department of Labor is crucial. These agencies continue to be an invaluable resource when it comes to investigating and prosecuting cases of pay discrimination.
Addressing Occupational Segregation
Implementing policies to address occupational segregation, such as promoting women's entry into high-paid work and reducing women's overrepresentation in low-paid work, is another important step. This can be done through efforts like mentorship programs, skills training, and targeted recruitment.
Promoting Transparency
One easy solution to end gender discrimination in pay is to increase transparency around salary ranges. When employees have access to information about how much their co-workers make, they can more easily spot and call out discriminatory pay gaps.
Raising the Minimum Wage
With women — who hold two-thirds of the minimum wage jobs — making up a large share of the transformative effects of raising the minimum wage. This would narrow the wage gap and raise their earnings at the same time.
By implementing these strategies, we can create a more equitable workplace where women are valued and compensated fairly for their contributions. OverTraders.com is committed to supporting these efforts and promoting a culture of transparency and accountability in the financial industry and beyond.
