The Gender Pay Gap is Still Very Real

How well does your company do on the “gender pay score card, “equally paying males and females?

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Total Votes : 8

Scroll down to see how people across America voted.

Wage inequality has long been an issue which is why the National Committee on Equal Pay Equity created Equal Pay Day back in 1996. It’s a day that is supposed to bring awareness to the distinct pay gaps between men and women.

The most recent Equal Pay Day was on April 2, but the day before, investment advisory firm Arjuna Capital dropped their second annual Arjuna/Proxy Impact report, otherwise known as the “Gender Pay Scorecard, which grades the world’s largest companies when it comes to paying wages to each gender.

Apparently, 23 of the 46 companies polled, including Goldman Sachs, McDonald’s, Walmart, Colgate, and Oracle received F’s. Nine- American Express, Apple, Bank of New York Mellon, Intel, JPMorgan, Nike, Pfizer, Starbucks, and Wells Fargo- received B’s. And only one, Citigroup, got an A.

In a more detailed breakdown, ten of the 19 participating financial firms, five of the nine retail chains, five of six health care companies, and three out of 12 tech firms failed.

Globally, it’s estimated that on average, women make 77 cents on the dollar compared to men, and in the U.S., that number rises to about 81 cents according to the latest US Census Bureau data.

In the bigger picture, those numbers can come out to be an annual difference of $10,470-per-year, or nearly half a million dollars throughout a career.

Back in December, a report from the World Economic Forum estimated that it would take at least 200 years for women to close the pay gap, blaming it on automation and the struggles of child care.

“It’s still a long way from parity,” said co-author Saadia Zahidi. In addition, Urbana-Champaign published a mathematical model that shows women make up only a third of higher office positions in the business, government, medical and academic sectors of work.

“It’s time for Silicon Valley and Wall Street to step up their game,” Natasha Lamb, the Arjuna managing partner who served as the report’s lead author, said. Her firm has already received pledges from 22 US companies to divulge and take steps towards closing their pay gaps on an equal-pay-for-equal-work basis.

The companies were graded on “quantitative pay disclosures, commitments to report their pay-gap numbers annually, global coverage, and goals for closing gender pay gaps.”

According to Morgan Stanley, a more gender-diverse workforce “leads to a higher return on equity and less volatility.” And investment bank Credit Suisse believes that “companies, where women make up at least 15 percent of senior managers, have more than 50 percent higher profitability than companies where female representation is less than 10 percent.”

However, there is a large group of people who believe that the gender pay gap is made up, or not as bad as we are led to believe. According to the newest SurveyMonkey poll that questioned 8,566 American adults, 46 percent of male participants think that the pay gap “is made up to serve a political purpose.” And about two out of every ten men go as far as checking the poll’s “fake news” box. You can read more about this story on the New York Post.


Here’s how people on the Zip app are weighing in on this all over the country!

How well does your company do on the “gender pay score card, “equally paying males and females?

Totals
76% High score
24% Low score
Males
81% High score
19% Low score
Females
65% High score
35% Low score

High score

Low score


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