Monday, May 8, 2017

3 Steps You Can Take To Close The Gender Pay And Opportunity Gaps - TLNT

by  Mykkah Herner
Originally published: May 8, 2017

Gender pay data can be examined in a number of different ways, but no matter how you slice it, the pay gap still exists.

The most recent research by compensation data and software company PayScale, where I work, shows that the pay gap between men and women has shrunk. This “uncontrolled pay gap,” or the median salary for all men compared to the median salary all women — regardless of job, experience or worker seniority — shows that women made 76 cents for every dollar earned by men in 2016. So, women earned slightly more last year when compared to 74 cents for every dollar earned by men in 2015.

That’s somewhat encouraging news, but a difference in pay of 24% between genders is still staggering. However, it doesn’t give us a complete picture. Things look better when we make an apples-to-apples comparison, controlling for compensable factors such as years of experience, specific skills and job title. When we look at this “controlled pay gap,” which compares men and women’s pay for the same job with the same qualifications, women today make about 98 cents for every dollar earned by men (up from 97 cents last year).