“If you’re a young women who graduated last summer from high school, you will earn $700,000 less over your working life than the young man standing in line with you to get his diploma. If you graduated from college, you’ll lose $1.2 million compared to the man getting his degree along with you. ”
-Evelyn Murphy: President of The Wage Project
The gender wage gap is real and serious action needs to be taken in an attempt to narrow the divide. In 2011, women earned .77 cents for every dollar that a man made. The cause of this difference in earnings is due to a variety of factors. In part it is due to personal choices that women make over their lifetime such as their occupation, taking time off to have children, number of hours worked, and forms of compensation received. However even with these factors taken into account, a gender wage gap still exists. This remaining gap is due to gender discrimination. My white paper explores the various effects that the above-mentioned factors can have on women’s salary and discusses possible recommendations to help eliminate the gender wage gap. My main recommendation, and what I believe to be the most important first step in eliminating the gender wage gap, is the passing of the Paycheck Fairness Act by Congress. If it is passed, I believe we will see a ripple-effect in society and in the business world, which will help to significantly narrow the gender wage gap.