The Gender Pay Gap
So it looks like the gender pay gap may not be changing any time soon, can Millennials make a difference?
The pay gap between men and woman has always had a significant gap between the two. In history, men have always been paid more than women.
Some states are creating new laws to impact this problem.
Experts say though things may not be getting better.
Today, Millennials make up the largest generational group in the workforce in the US. Millennials are truly taking over!
Millennials face gender pay gap just like any other generation.
The gap unfortunately continues to widen especially in the Millennial generation.
Experts have reported that this pay gap will continue to widen as salaries rise.
Even though the gap is smaller than Generation X or Baby Boomers in history the gap is predicted to continue to widen as more of the workforce becomes primarily Millennial.
Where is it the worst?
The biggest example of the gap are in TV and Entertainment. Actors have been recorded to have been making much more in entertainment than women.
Wages for millennial men are growing at a rapid rate than for millennial women with comparable jobs.
What About Industries?
It has been found that millennial women earn less across every region and industry than their male coworkers.
The largest gap is found in educational and health services between men and woman. It is found that men are making more in a woman driven field.
This truly highlights the problem.
Starbucks stepping up
Starbucks came out and announced that the gender pay gap between men and women has been eliminated at their company.
Last Wednesday, Starbucks announced that the pay gap is closed and that it has achieved 100 percent pay equality amongst it’s employees.
Over 3,5000 people celebrated as Lucy Helm, EVP and Chief Partner Officer announced the pay gap elimination.
Across the nation the pay gap between men and women is about 20 percent. But among much more educated and accredited workers the pay gap is much larger and goes up to 34 percent.
What does this mean exactly? For every dollar males are paid woman get paid 66 cents with a graduate degree.
Starbucks also announced that they will be formulating and share pay equity principals that helped it close the gender gap pay to show other companies what they have to do to really follow their pay.
This is ground breaking work in history and really shows change in the making for companies like Starbucks.
What Can We Do?
We as recruiters want to make sure that everyone of our candidates are given the best rate of pay possible.
Many laws are being passed in states around the country that prohibit recruiters and employers from asking people their salary.
The idea being that people will not get a new salary offered based on their current earnings, which may be unfair or under market.
This can be a double edged sword for candidates as many are now asking for salaries that are too high, and then pricing themselves out compare to the competition.
Be smart about this but also know your legal rights.
Why do women get paid less than men?
This is something that goes back in history. Before men were seen as the bread winners.
Things have significantly changed while women have become more and more empowered to become bread winners on their own and in families.
This is something that has escalated and become more known. Because pay wise women were paid less in the past, women have become more educated and earned degrees and have put their foot in the door to great companies holding high titles.
Women are really starting to make their print in the workforce in fields that are dominated by men.
Things seem to not be changing too much even with the Millennial generation taking over the workforce.
Trends show that in fact the gender gap pay gap may even widen as time goes on with men continuing to make more money than women.
Be sure to know the laws in your state. If you are an employer, don’t discriminate!
Here at Aldebaran Recruiting we will continue to do everything we can to negotiate the best and fair salary for all of our candidates.