The gender pay gap even extends to women shortly after college when they have similar experience and qualifications to their male counterparts. Men between the ages of 21 and 24 with a college degree are paid an average hourly rate of $20.87. Women are paid $17.88. In other words, women make $2.99 less on average per hour than men despite having exactly the same amount of education and usually similar working experience. This is an annual difference of $6,000.
While the pay gap between male and female high school graduates has lessened since 2000, the gap between recent college graduates has increased. This is especially remarkable as women earn their bachelor’s degrees at a higher rate than men: 20.4% of women between the ages of 21 and 24 have a bachelor’s degree compared to 14.9% of men.
It is simply unacceptable that an employee is paid less based on gender. The issue of the gender pay gap is complicated and there is no one easy solution. The Economic Policy Institute suggests the best approach might be developing policies that will raise wages for working people in general.
Databyte via Elise Gould and Teresa Kroeger, Straight Out of College, Women Make About $3 Less Per Hour Than Men. Economic Policy Institute.