FOSTER CITY, Calif.,
Feb. 25, 2021 /PRNewswire/
-- The pandemic's economic impact seems to vary by gender. The
National Women's Law Center notes 55% of the net 9.8 million jobs
lost since February 2020 were held by
women; this could exacerbate financial inequality. Women
already experience a pay gap, so securing their financial
future is all the more urgent. Should women be more open about
salary to help achieve equal pay? In advance of Women's History
Month and International Women's Day,
MyBankTracker.com releases new survey results from
approximately 1,000 women and 1,000 men on their comfort level
revealing their salary.
Highlights
- More than 60% of women surveyed would rather disclose their
weight (63%)
-
- Only 37% of women prefer to reveal their salary
- Females ages 18-24 are the most comfortable sharing their
salary (40.79%)
- Just 20% of men surveyed would reveal their salary information
while 80% prefer to disclose their weight
-
- Men ages 35-44 are the most comfortable revealing their salary
(24.05%)
- Generally, female respondents are more comfortable discussing
their salary than their weight as age increases
- Women ages 35-44 are most likely (60.71%) to have, at one
point, been paid less than a male coworker with the same
experience
It turns out neither sex is especially comfortable revealing
their salary. With millions unemployed and emergency funds
depleted, why is talking about salary still unthinkable?
Would you rather reveal your weight or your salary?
Women:
Age
|
Salary
|
Weight
|
18-24
|
40.79%
|
59.21%
|
25-34
|
33.75%
|
66.25%
|
35-44
|
36.53%
|
63.47%
|
45-54
|
36.11%
|
63.89%
|
55-64
|
37.80%
|
62.20%
|
65+
|
40.22%
|
59.78%
|
Total
|
37.28%
|
62.72%
|
Men:
Age
|
Salary
|
Weight
|
18-24
|
19.40%
|
80.60%
|
25-34
|
19.14%
|
80.86%
|
35-44
|
24.05%
|
75.95%
|
45-54
|
17.86%
|
82.14%
|
55-64
|
16.90%
|
83.10%
|
65+
|
20.97%
|
79.03%
|
Total
|
19.55%
|
80.45%
|
Prior to COVID-19, slightly more women were employed than men.
However, women accounted for 100% of the jobs lost in December 2020, according to the Bureau of Labor
Statistics, while men gained jobs. Other women left the workforce,
likely to take care of family. Some have coined this period the
"she-cession" and fear it could widen the gender wealth gap and
retirement planning gap. Income is a major contributing factor
to both, but the gender pay gap was around long before
COVID-19.
Have you ever been paid less than a male coworker for the
same job even though he has/had the same amount of experience as
you?
- More than 50% of the women surveyed say they've been paid less
(51.8%)
- Those ages 35-44 report they experienced being paid less than a
male coworker more than any other age group - more than 60%
responded yes
Age
|
Yes
|
No
|
I
prefer
not to
say
|
18-24
|
44.03%
|
42.54%
|
13.43%
|
25-34
|
46.58%
|
42.24%
|
11.18%
|
35-44
|
60.71%
|
29.76%
|
9.52%
|
45-54
|
54.82%
|
38.07%
|
7.11%
|
55-64
|
56.18%
|
38.76%
|
5.06%
|
65+
|
46.11%
|
45.00%
|
8.89%
|
Total
|
51.77%
|
39.29%
|
8.94%
|
View the complete analysis: Survey: Would You Rather Reveal Your
Weight or Your Salary?
Methodology
The studies were conducted through Google
Surveys on behalf of MyBankTracker from:
- February 3-9, 2021 with 971
female respondents in the United
States ages 18 and older with a standard deviation of +/-
1.8%
- February 11, 2021with 982 male
respondents in the United States
ages 18 and older with a standard deviation of +/-5%
- February 12-14, 2021with 1,018
female respondents in the United
States ages 18 and older with a standard deviation of +/-
1.8%
MyBankTracker's senior research analyst and author of the study,
Simon Zhen, is available for
comment. He can provide insight into how solidifying an
investment strategy or even working with a financial
professional can help women offset the wage gap that millions
experience and help secure their financial future. Zhen is a
personal finance expert with more than a decade of experience in
the banking industry.
About MyBankTracker
MyBankTracker is owned and operated by
QuinStreet, Inc. (Nasdaq: QNST), a leader in providing
performance marketplace technologies and services to the financial
services and home services industries. QuinStreet is a pioneer in
delivering online marketplace solutions to match searchers with
brands in digital media. The company is committed to providing
consumers with the information and tools they need to research,
find and select the products and brands that meet their needs.
MyBankTracker is a member of QuinStreet's expert research and
publishing division.
MyBankTracker is an independent comparison website helping
consumers make smart banking and financial decisions. The mission
is to match consumers to their perfect bank by providing and
tracking in-depth information on more than 5,000 banks, credit
unions and financial products. Using a combination of technology
and money management expertise, MBT provides personal finance
comparison tools and educates consumers to optimize their
relationships with banks and lenders.
Twitter: @mybanktracker
Facebook: https://www.facebook.com/mybanktracker
Media contact
Amy Eury
Public Relations Manager
412-532-9352
aeury@quinstreet.com
LinkedIn
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SOURCE MyBankTracker.com