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What is the current state of the gender pay gap?

On Behalf of | Jul 27, 2021 | Business-Employment

Being female in the modern workplace is no longer the rarity that it was 100 years ago. In a time where virtually no job is off-limits, there may still be room to create more equality among men and women in the workplace.

Over the last several decades, there have been substantial changes in the gap between men’s and women’s pay for similar jobs in the workplace. While the gap is smaller than in the all-too-recent past, sources say there is still room for change.

Here’s what you should know about the progress (and potential) of the gender pay gap.

The younger you are

The gender pay gap has shrunk over the years, but currently, the people seeing the smallest gap are the younger workers. A recent survey showed that people in the 25-34 age range saw a smaller pay gap when compared to all workers over the age of 16.

One factor to consider for the narrower gap could be the difference in skills and experience younger workers bring to the table. As employees age and spend time in the workplace, they develop their skills and learn specialties; this tends to be less of a factor for people who are just starting their careers.

Factors for pay discrepancies

In some ways, it can be challenging for employers to create a definition for equal pay in the workplace. As an employer, you are often looking at many factors, such as:

  • Experience
  • Education
  • Ability to negotiate
  • References
  • Industry knowledge

While the work your employees may perform may be the same, the skillset they bring to the table could be vastly different. As you evaluate how much your employees make, you should have a clear rationale for their salary range.