The Wage Gap Between Men And Women

Even today in the 21st century, nine years into the new millennium, women are still struggling to minimize the gap between what their annual salary is compared to their male counterpart within the same profession.  The wage gap is determined upon a number of variables.  These variables include the median wages of women and men that work full-time and throughout the entire year, their education and skill levels, the number of men and women entering the workforce, and the strength of the economy at that point in time.  Women are continuously being hired less compared to men, being given fewer training opportunities compared to men, and are being given smaller pension and benefits packages compared to men. 

Even in the accounting field, women earn substantially less than males with the same qualifications.  In the accounting profession, it appears that the wage gap occurs immediately after graduation from college, and only grows wider as women gain more experience.  Even though women are more than half of college graduates that hold a Bachelor's in Accounting, between the ages of 19-29, female accountants earn just 88% of men's total compensation.  And that includes extra benefits and bonuses.  According to the Institute of Management Accountants, in their 2007 survey it was found that it's female members earned about $85,000 while their male members earned just above $100,000. 

Even though women now make up approximately half of the nation's workforce, and women provide at least half of the income for more than two-thirds of American families, women are still only earning 77 cents for every dollar that men earn.  Men with children earn up to 2% more than men without offspring.  On the other hand, women earn 2.5% less if they have children at home.  Also, men earn more of a bonus at the year end if they have children than women do.  These children at home are affected greatly by this wage gap.  Most children are supported by the income of at least one woman in the home, and approximately 29% of women in the workforce earn 100% of their family's income.  Women who have dual responsibilities-caring for their children, and also obtaining a career-are penalized because since they cannot work as many hours and are more likely to leave the workforce for long periods of time, they cannot earn as much as a male. 

People who do not believe that the wage gap is a large issue argue that it exists because of a number of reasons.  One reason is because women are less likely to negotiate their salary.  Men more frequently request a raise, or request better benefits or stock options.  Many people also argue that the wage gap is so large because of career choice.  Since more women enter the education and healthcare fields, and more men enter the business and law fields, and men are more likely to reach executive status, many say that that is the reason for the gap.  But, career choice is entirely a different issue.  Because even women who do enter the business fields, and do obtain a top management position with a Bachelor's degree still earn roughly $95,000 while their male counterpart earns roughly $135,000 on average. 

The Equity Pay Act was established in 1963 in order to attempt to mend the difference in salaries earned between men and women.  It was put into place in order to protect workers against discrimination in the workplace based on their sex, race, color, national origin, religion, ethnicity, and/or disability.  More than forty years after this act was put into place, and it still has not cured our nation's wage gap.  In 2001, women earned only 73.4% of men's salaries. 

The women in America's workforce are being paid less than men with numbers increasing every year.  Females are being held responsible for this because of career choices, and mostly for the reason of having children at home, while men's earnings are being boosted if they have children.  The fairness factor has never been addressed.  Women have earned the right to vote, the right to work, and the right to have their own opinion over the past years.  Women need to fight for their right to have equal pay to men.  Not even an Equity Pay Act can help.