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.