The Wage Gap Myth

On average, men still earn higher wages than women. Are there additional facts we need to know?

According to Sarah Ketterer, CEO of Causeway Capital Management, one key reason is that men are significantly more likely to work longer hours, based on data from the BLS. Another reason is that women are far more likely to leave the work force for years to raise children. But these facts are well known.

But another major factor, less known, is the choice of career. Women are far more likely to choose lower paying careers such as “theater arts and drama” or “counseling psychology.” Of the 10 lowest paying majors, only one (theology & religious vocations) is primarily male. (WSJ, pg. A17, 10/1/15),

Most of the 10 highest paying majors (e.g., mathematics & computer science), are primarily male. Only one is primarily female (pharmacy sciences & administration).

Finally, and very interesting, in most of our nation’s largest cities, single women under 30 on average earned 8% more than their male counterparts. Any wage gap due to discrimination based on sex has largely disappeared. Good news for a change.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s