Women CEOs Experience Less Pay Gap
But the climb to the top isn't so easy.
The wage gap tends to narrow at the top levels of some corporations — which is great. The problem, though, is that many women are not reaching that high on the corporate ladder. An article from The New York Times recently pointed out that women CEOs are more likely to make as much as their male colleagues, but they don't usually get that position.
This isn't an entirely new discovery. We're well aware of the lack of female chief executive officers — in the list of the world's top paid CEOs worldwide, there's not even one woman in the top 15. The Equilar Top 200 Highest Paid CEO Rankings, conducted for The New York Times, also reflected the disparity between men and women in corporate America. Job choice remains another reason for the wage gap — even within the same industry, women are still coming up behind men. In medicine, for example, women are more often working as nurses and less often as surgeons, making for a big difference in pay.
One key factor in this could be that women in the United States don't have paid maternity leave. Employers are only required to give women 12 weeks (unpaid) off after having a baby — in fact, half of all first time mothers receive no paid leave.
The tech industry is noted for changing the game, however, embracing flexibility regarding how employees work, rather than when they work. Since the industry is fast-paced and constantly changing, it's easier to bypass the traditional prejudices in place in other industries. Yahoo, for example, hired Marissa Mayer as chief executive when she was seven months pregnant. When Sukhinder Singh Cassidy was president of Asia Pacific and Latin America operations at Google and pregnant, her bosses agreed to pay for her baby and nanny to travel the world with her.
Of course, even women at the top executive level still face challenges. Just last month, Jill Abramson's firing from The New York Times raised concerns over whether or not equal pay played a factor in her dismissal.
One study found found that discrimination does affect pay-for-performance compensation, which is meant to tie a chief's pay to the success of the company itself. Women reap less of the benefit for a positive performance, while men are more often to receive a bonus for getting lucky — meaning the company performs well based on factors that had nothing to do with their own skills.
The more women on top, the better: Women who work for a company where a woman is the chief executive or heads the board are likely to make more than in a similar company led by men. Companies led by women have also shown to have more women in senior positions, which can be a helpful force in changing this imbalance.
Stay In The Know
Get exclusive access to fashion and beauty trends, hot-off-the-press celebrity news, and more.
Related:
Mind the Gap On Your Way Up the Corporate Ladder
Why Young Women Should Care About Equal Pay Day
Image Credit: Getty Images
-
Gwen Stefani Says She Didn't Know Husband Blake Shelton "Existed" Before Meeting Him on 'The Voice'
"I never listened to country music, so while Blake was super successful, I never even knew he existed before I met him."
By Danielle Campoamor Published
-
Prince Harry Prepares for January Trial in Illegal Information Gathering Lawsuit Against UK Tabloid
The Duke of Sussex’s lawyer, David Sherborne, confirmed the case is moving forward.
By Danielle Campoamor Published
-
Jennifer Lawrence Extends Her Chic Maternity Vintage Streak in an Archival Black Suit
The actress is expecting her second child with husband Cooke Maroney.
By Danielle Campoamor Published
-
Confronting Unequal Pay: A 10-Step Guide for Women—and Their Allies—to Fight Wage Discrimination
Black Women’s Equal Pay Day is not a celebration. My hope is that if we all continue to ask for what we want, we chip away at that wage gap, one Black woman—and ally—at a time.
By Minda Harts Published
-
Peloton’s Selena Samuela on Turning Tragedy Into Strength
Before becoming a powerhouse cycling instructor, Selena Samuela was an immigrant trying to adjust to new environments and new versions of herself.
By Emily Tisch Sussman Published
-
Give Mom What She Really Wants This Year: Equal Pay
Moms have faced some of the biggest setbacks since the pandemic started. So this year, don’t just say it with flowers—say it with phone calls to your Senators and your HR department.
By Elizabeth Barajas-Román Published
-
This Mutual Fund Firm Is Helping to Create a More Sustainable Future
Amy Domini and her firm, Domini Impact Investments LLC, are inspiring a greater and greener world—one investor at a time.
By Sponsored Published
-
Power Players Build on Success
"The New Normal" left some brands stronger than ever. We asked then what lies ahead.
By Maria Ricapito Published
-
Don't Stress! You Can Get in Good Shape Money-wise
Yes, maybe you eat paleo and have mastered crow pose, but do you practice financial wellness?
By Sallie Krawcheck Published
-
The Book Club Revolution
Lots of women are voracious readers. Other women are capitalizing on that.
By Lily Herman Published
-
The Future of Women and Work
The pandemic has completely upended how we do our jobs. This is Marie Claire's guide to navigating your career in a COVID-19 world.
By Megan DiTrolio Published