For the first time in U.S. history, there are more college-educated women than college-educated men in the workforce. According to Pew Research, there are 29.5 million women with at least a bachelor's degree in the workforce, compared to 29.3 million men. However, college-educated women have outnumbered college-educated men since 2007. The number of women in the U.S. workforce has increased 11 percent since 2000.
Why is this important? Because college education is highly correlated with income. Having more college-educated women in the workforce gives women somewhat of a chance at earning as much, if not more, than men — hopefully helping to narrow the gender wage gap. The gender wage gap is currently estimated to be between 10-20%.
Why just "somewhat"? Because there are many factors at play. And the gender wage gap is on track to be closed by — ready? The year 2059; for Black women, the year 2119; and for Latina women, the year 2224.
The standard excuses for disparity in income, such as "men are more likely to pick high-paying careers," and "women make less money because they take time off to have kids," are false and dismissive towards the very real issue of women being paid less than men for the same jobs.
For the first excuse, "Men are more likely to pick high-paying careers," the gender pay gap exists even in traditionally lower-paying careers. Women in food preparation make 87% of what their male counterparts make. The gender wage gap exists within career fields, not between them.
Second, the excuse "women make less money because they take time off to have kids," doesn't apply when you look at the fact that right out of college, women make 93% of what men make. These are men and women with the same GPA upon graduation and in the same career fields.
Women are underrepresented at every level of the workforce — particularly women of color. Only one in five women in the workforce are in a leadership role, and that number plummets to one in 25 for women of color.
The idea that women need to ask more for salary raises is false. Women ask for raises as much as men do, but they are less likely to be given those raises. Harvard Business Review stated they were even surprised at this finding in their study. Men get a raise 20% of the time when they ask — women get a raise 10% of the time. The issue is also not the style of negotiating. (You want to see some next-level negotiation skills? Watch a mom with a toddler.)
There is also no evidence that women need to be more assertive in their negotiating style. Men and women are equally concerned about upsetting the status quo by asking for a raise.
What's a solution we can do right now? Let's start with educating others about the gender pay gap. Make the gender pay gap an open topic in the workplace. Calling it out can be the first step towards changing it. That's a start.
