The Truth About the Wage Gap

The Money with Katie Show

Money with Katie

Investing, How To, Self-improvement, Business, Education

4.8 • 1.3K Ratings

🗓️ 23 August 2023

⏱️ 53 minutes

🔗️ Recording | iTunes | RSS

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Summary

Why does the wage gap persist, despite both legislation and a cultural shift that encourages women to participate in the workforce with the fervor of a thousand exploding suns? The gap has barely budged over the last decade or two, stagnating somewhere in the low 80% range. I had to crawl into some objectionable online spaces that are expressly “anti-women” to find out (so you don’t have to!)…and the consensus I found there was dizzying. I'm also joined by Ellevest's CEO Sallie Krawcheck—and, I have to say, this conversation is a must-listen. Transcripts can be found at podcast.moneywithkatie.com — Mentioned in the Episode Economic historian Claudia Goldin's work: https://podcasts.apple.com/us/podcast/women-at-work/id1336174427?i=1000403279400 US Bureau of Labor Statistics data on the wage gap: https://www.bls.gov/opub/ted/2022/median-earnings-for-women-in-2021-were-83-1-percent-of-the-median-for-men.htm BLS "time use studies": https://www.bls.gov/news.release/pdf/atus.pdf Harvard study on the dynamics of the gender wage gap: https://scholar.harvard.edu/files/goldin/files/dynamics_of_the_gender_gap_for_young_professionals_in_the_financial_and_corporate_sectors.pdf US News ranking and methodology for countries and gender equality: https://www.usnews.com/news/best-countries/articles/methodology Parental leave data from the Organization for Economic Cooperation & Development: https://www.oecd.org/els/soc/PF2_1_Parental_leave_systems.pdf BLS employment characteristics from 2022: https://www.bls.gov/news.release/pdf/famee.pdf Pew Research on stay-at-home parents in the 1970s: https://www.pewresearch.org/social-trends/2014/04/08/after-decades-of-decline-a-rise-in-stay-at-home-mothers/ Cosmopolitan essay from Laura Kipnis on why maternal instincts are BS: https://www.cosmopolitan.com/sex-love/a37568/why-maternal-instincts-are-bs/ — Follow Along at Money with Katie: https://moneywithkatie.com/ Watch on YouTube: https://www.youtube.com/@MoneywithKatie Follow Money with Katie! - Instagram: https://www.instagram.com/moneywithkatie/ - Twitter: https://twitter.com/moneywithkatie Subscribe to The Money with Katie Newsletter - Sign up for free today: https://www.morningbrew.com/money-with-katie/subscribe/2 Follow the Brew! - Instagram: https://www.instagram.com/morningbrew/ - Twitter: https://twitter.com/MorningBrew - TikTok: https://www.tiktok.com/@morningbrew Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	I was talking to a CEO not long ago about this, who said we absolutely do not have a gender
0:07.2	pay gap, it just doesn't exist in my company, and I said, yeah, it does, it actually like
0:12.2	literally does.
0:13.2	No, it does not, I'm so unbiased, I have daughters, it said, well, let me ask you this.
0:20.6	If you have a man or a woman who you have the same job, or you know, you're offering
0:26.2	them the same job, and he negotiates, which is what happens, and she does not.
0:32.7	You give him, you know, additional money because he negotiated, do you top her up?
0:37.5	The answer is no, of course not.
0:41.2	And so you sort of get it coming and going.
0:55.8	Welcome back to the Money with Kitty Show, Rich People, the podcast where women only earn
1:00.8	83 cents for every dollar a man earns.
1:04.4	Just kidding.
1:05.4	Today we're discussing an interesting economic phenomenon, one that we can't even get
1:10.8	people to agree exists.
1:13.9	That's right, it's the gender wage gap.
1:21.7	And because I live in perpetual fear of one star reviews that call me biased, I decided
1:26.4	I would venture into some pretty icky waters of the worldwide web to find out what these
1:32.0	staunchest wage gap deniers have to say.
1:35.2	I wanted to understand why there's always so much pushback about this topic to the tune
1:39.3	of, that's a myth, or it's not real when the data from the Department of Labor itself
1:45.2	seems relatively straightforward.
1:47.9	All that to say in preparation for today's episode, I dove into the bowels of Matt
	...

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