We are living in a society where dual income homes are common place. Women provide half or sometimes more of the household income in about 48 per cent of these households. They make the majority of financial decisions in these households. We see more women starting businesses than men. For almost three decades, more women have gone to and graduated with graduate degrees such as a MBA.
So it’s somewhat a mystery why women still make less money than men for equal amounts of work. In fact they still only make about seventy seven cents to a man’s dollar. I will say this is up from 75 cents about a decade ago. If you are a women who is a minority, you only make anywhere from 53 cents to 65 cents to a man’s dollar. Oddly enough, the better educated a woman is the bigger the discrepancy in wages they make compared to a man. This is not surprising when you know that very few of the fortune 500 companies are run my women. In fact only about 11 of the top 500 companies have women running them.
Women have more trouble getting past the glass ceiling than men. Glass ceilings are barriers that stop women from advancement. This is such a problem that one president started the Federal Glass Ceiling Commission to find out why women are still hitting the glass ceiling. One of the reasons is that they are still some biases against women as to whether they can run a company and a home.
European countries are passing laws that around 40% of promotions have to go to women in companies. I would like to see our country realize what talent lies in women and take it upon themselves to hire more women. Women can help by going around the old boys network and find a good mentor who can help them network their way up the ladder in a company.