It’s true: There is a pay inequality between men and women. Recent surveys and studies suggest the gap in pay between men and women may be narrowing, but the gap is still there nonetheless. The most recent study shows that women currently earn roughly 80 cents to every dollar a man makes.
However, Payscale put together an infographic earlier this year that looks at that gap a little more closely. The infographic suggests that even as there is clearly a pay inequality between men and women on average, it is not quite as large of a gap if you look at instances where men and women have the same job and similar experience. For instance, a new article from Bloomberg Businessweek reports that, “On average, female grads from top MBA programs now earn 93¢ for every dollar paid their male classmates.” This number does not stay completely consistent across the MBA board, however, and even that 93% is down from 98% in 2002.
Take a look:
Perhaps the biggest factor contributing to an inequality in pay can go all the way back to which major a student picks: women seem to pick those majors that lead to few high paying jobs. However, if a man and woman with similar experiences and skills were both to enter into the same MBA in Virginia, one could probably expect their eventual earnings to be closer than what current, average, statistics regarding pay inequality between men and women suggest.
Pay and Education:
Another infographic regarding pay does not put its findings in terms of gender, but does show how education (level, type, degree required) impacts one’s expected earnings:
Not surprising, those with college degrees generally have higher salaries than those without. Also not surprising, it is not always a sure bet: a post-graduate degree in a more academic field (archaeology, for example) results in less pay on average than what can be expected with some bachelor’s degrees. Other studies show that, at many levels of education, women outnumber men and that number is only expected to climb over the next five to ten years.