Financial advisors have highest wage gap
Women have lower median earnings than men in 107 out of 111 occupations, regardless of levels of education, according to a report by the Institute for Women's Policy Research (IWPR) in Washington, DC.
Close to two-thirds of workers in the lowest paid 10 occupations are women while in the highest paid 10 occupations, close to two-thirds of workers are men, found the report. Women's median earnings are lower than men’s in the 10 most common occupations, in the 10 highest paid occupations and in the 10 lowest paid occupations.
Professional financial advisors have the highest gender wage gap for one week of full-time work. In this occupation, the female-to-male earnings ratio is 58.4 per cent, equal to a weekly gender wage gap of 41.6 per cent (based on median earnings for full-time workers). The national weekly gender earnings gap for full-time work in the United States is 18.8 per cent.
Employers should adopt the public posting of job and promotion opportunities; transparency in the criteria for pay and promotion decisions; accountability of supervisors; and the analysis of pay and promotion decisions to make sure decisions are not biased to prevent wage discrimination, according to Ending Sex and Race Discrimination in the Workplace: Legal Interventions That Push the Envelope.
