WASHINGTON, DC–This just in from the the Institute for Women’s Policy Research: Women’s median earnings are lower than men’s in nearly all occupations. This is true whether they work in occupations predominantly done by women, occupations predominantly done by men, or occupations with a more even mix of genders. And, unfortunately, this is also true if you are a real estate broker or sales agent.
This is hardly news — according to data released by the US Census Bureau in September 2016, based on the median earnings of all full-time, year-round workers in 2015, women now make 79.6 cents for every dollar men make, a change from 78.6 cents the previous year. Women’s earnings in 2015 were $40,742, while men’s were $51,212. (Per the National Committee on Pay Equity).
To be fair, some economists have refuted the notion of a gender pay gap, usually based on the premise that salaries equal out when total hours worked are accounted for. Then again, the Bureau of Labor Statistics’ American Time Use Survey, which compiles data on how much time Americans spend doing paid work, unpaid household work and all the other activities that compose a typical day shows that women are still devoting a greater share of their time doing unpaid household work.
Back to the IWPR’s figures: For our readers, what is interesting is that its stats also suggest that the wage gap exists in the financial sector — specifically, real estate brokers and sales agents.
In 2016, the occupation with the largest gender wage gap was ‘personal financial advisor’, with median weekly earnings for full-time work of $953 for women and $1,714 for men. In other words, women’s median weekly earnings were only 55.6% of those of men’s, corresponding to a gender wage gap of 44.4%.
A similar disparity was found in related occupations including real estate brokers and sales agents. Women working in that field, along with insurance sales agents, physicians and surgeons, securities, commodities, and financial services sales agents and marketing and sales managers have a gender earnings ratio of less than 66%. Men’s median weekly earnings are higher than $1,000 in each of these categories.
IWPR used US Bureau of Labor Statistics for its calculations.