Tuesday, July 23, 2024
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It’s common knowledge that women still make about 80 cents for every dollar earned by a man (67 cents for every white man’s dollar for Black women.) And despite no shortage of public awareness campaigns, the conversation is still very necessary.

According to recent Statista findings, the gender pay gap is alive and well – and you might be surprised at where it’s the widest. The assumption has always been that higher education means higher pay, but that’s not always the case – particularly not for women.

Two cisgender employees, one a man, and one a woman, have the closest chance to earning the same pay in positions that require less than a high school degree. There’s a small uptick in the pay gap in positions that require a high school diploma or some college attendance.

But for women on a career path that requires a college or advanced degree, the gender pay gap makes a surprising leap. With an advanced degree, the average woman can expect to make more than 30% less than her male counterparts.

Women are also more likely to graduate college than men, and end up borrowing approximately 10% more in federal student loans and 4% more in private student loans. And making a potential 30% less than her peers, it’s no wonder that those loans are likely to be paid off more slowly over time.


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