Ladies the war is far from won. The Wall Street Journal did an in-depth study of pay in 446 major occupations and found that women in many elite jobs earn well below men. Professions such as doctors, compensation managers and personal financial advisers have the widest gaps between women and men.
One of the most disturbing finding came from a study of MBA graduates at the University of Chicago. At graduation, men and women’s salaries were roughly equal. But ten years later, women earned just 57% of the men. The reason, according to the researchers, was that women interrupted their careers for pregnancies and were not willing to work the grueling work schedules that generate higher paychecks.
I remember when Jack Nasser became the CEO of Ford he told his senior management team that he expected 100 per cent of their time and anyone not willing to commit should look for another job. It is telling that not one of the all-male team resigned.
There was a time when women with a B.A. or higher earned more than counterparts with a high school diploma. No longer. In today’s work place the high school graduates, while earning less than the college grads, have greater pay parity with the men because employers view them as more interchangeable than the women with college graduates.
Unfortunately,there here is no easy fix because women bear the children and manage the home. But economists and policy makers agree that for top-tier women flexible schedules may have one of the biggest impacts along with convincing husbands to shoulder more household chores including shopping and cooking.
I am not going to hold my breath waiting for that one.