Wage Gap Worsened in 2012, Women Can Expect to Lose $443k Over Entire Career

| by
article imagearticle image

Although many have hope that the pay gap between men and women is closing, a recent study found that it is actually widening.

The National Women's Law Center found that, on average, women can expect to lose $443,360 over their entire career due to the wage gap.

That means they would have to work for an additional 12 years to catch up with men's pay.

Although the gap has been closing for some time, statistics show that it widened in 2012.

In 2011, women earned 82.2 percent of what men did per year, but that dropped to 80.9 percent last year.

They said budget cuts in 2012 are partly responsible for the drop, as many jobs affected were in the public sector where women make up the majority of positions.

Katherine Gallagher Robbins, senior policy analyst at the NWLC said a big reason the wage gap is wider is because about two-thirds of those working for less than $10.10 an hour are women.

There is also still discrimination against women in the workplace, as the American Journal of Sociology found in 2007 that women who are mothers have a lower starting salary than those who are not.

Bloomberg also disproved the common perception that women lose out on more money because they choose lower paying jobs. An analysis in 2012 showed that the wage gap exists across all sectors, even higher-paying ones.

Surgeons experienced a large gap, as female physicians made an average of 71 percent of what male physicians did. CEOs faced a similar gap, with females earning 72 percent of a male's salary.

Sources: Daily Mail, Forbes