Gender wage gap? What gender wage gap? That’s the question that a new study is prompting many of us to ask.
According to a Korn Ferry Hay Group analysis of nearly three-dozen countries around the globe, the gender wage gap is pretty much non-existent in the developed world. Looking at more than eight million employees in 33 nations, the study concluded that the gender pay gap between men and women was just 1.6 percent (for men).
The only reason why there is any gap at all is because of a few reasons:
– Fewer women are in the overall labor force.
– Women choose different occupations with low-risk and better work-life balance.
– Men tend to work more hours.
– Females exit the labor force temporarily to have children.
Researchers concluded that men and women doing the same job with the same responsibilities in the same industry receive the same level of pay.
“For years we’ve read bold headlines about the gender pay gap, reporting that around the world men are paid an average of 20% more than women. Our global research confirms this gap but also shows that when compared “like for like”, the gender pay gap reduces to 1.6%.
“Put simply, a man and a woman doing the same job in the same function and company, get paid almost exactly the same. But one thing remains true: as a demographic group, women get paid less than men. It’s time for a new approach. It’s time to see things differently.”
Can we finally put this myth to bed that there’s a vast conspiracy against women and that they earn 77 cents for every dollar a man earns? Please!
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