Gender Pay Gap Actually Indicates Opportunity Gap in Corporate America

Stephen Singleteary began his career as an accountant before earning his JD from DePaul University School of Law. As a financial and legal professional, Stephen Singleteary is aware of the difficulties women face in growing their careers. One of them is the ever-present opportunity gap.

Women are continually denied leadership opportunities in corporate institutions. In fact, new research suggests the pay gap that women face in their careers is actually a consequence of the opportunity gap that exists today. PayScale conducted an online survey between January 2016 and February 2018. More than 2 million respondents participated in the study. This is what PayScale found:

On average, women earned 77.9 cents for every dollar men earned. This gap grew larger at more senior job levels. A woman in her 20s earns 81.8 cents for every dollar a man in the same age bracket earns. A woman aged 30-44 years earns 76.1 cents for every dollar a man does, and a woman aged 45 or older earns 69.1 cents for every dollar a man does. 

The reason for the progressive pay gap was the higher career growth opportunities men benefited from. The study revealed that men were 70 percent more likely to be in vice president or C-suite roles by mid-career and 142 percent more likely by late career. These advancements come with higher incomes. Therefore, companies that want to close the wage gap should first consider taking steps to close the opportunity gap.

It should be noted that studies have shown that the pay gap is even wider and the career opportunities are significantly less for women of color.