Women Earn More Money Than They Think
Debunking the claim "Women earn $0.77 for every dollar men make," Maddox reveals that women actually earn closer to $0.95 to a man's dollar - a welcome revelation for all. Here's part of Maddox's insightful explanation...
It turns out the common argument “Women earn $0.77 for every dollar men make” is a myth, ardently dispelled by none other than Maddox.
TL;DR – Women actually earn closer to $0.95 for every dollar men make… which is great news, for everyone!
Here’s a partial transcription of Maddox’s explanation (emphasis mine). His video is at the bottom of the post:
The wage gap claim is one of the most persistent pieces of misinformation of our times.
Women aren’t being paid 23 percent less than men for the same amount of work. If they were, women would make up the overwhelming majority of the workforce.If companies could simply save 23 percent on salaries just by hiring women, why wouldn’t they?
According to The Washington Post,the 77% figure comes from raw wage data that looks only at the annual salary of all men and compares it to the annual salary of all women, regardless of job type or hours worked.
So, essentially, it’s comparing the salary of female elementary school teachers to the salary of male petroleum engineers.
That’s like taking the average salary of a cashier at Ralph Lauren, adding in the CEO’s salary of $66.7 million dollars, and then saying that the average employee in a Ralph Lauren store makes $1,612 dollars per hour.
That’s why you don’t conflate job types when you’re looking at salaries.A study commissioned by the US Department of Labor found that when all relevant variables are accounted for the pay gap shrinks to about 93 to 95 percent.
In fact, in a 64-page report, they only mention this number in one sentence. One time, along with one small graph. They then tried to obfuscate his findings by saying that just over one-third of the pay gap cannot be explained.
So, in other words, 33 percent of 23 percent…
That’s a real shady way of saying “7%.”
We have laws in this country against sexual discrimination, like the Equal Pay Act of 1963, the Education Amendment Act 1972, and the Fair Pay Act of 2009.A far more likely explanation for the remaining 7% is that women are far less likely to negotiate for salaries than men.
In a study conducted by the Stockholm School of Economics, researchers found that only 28% of women were willing to negotiate for more pay compared with 43% of men.Another study from Carnegie Mellon came about when a group of female graduates complained that their male counterparts were getting teaching jobs, whereas the women were only getting teaching assistant jobs.When the professor asked the dean why, he simply said that none of the females had asked for teaching jobs, whereas the males had. The economics professor conducted an experiment and found that 83% of men versus only 58% of women negotiated for higher pay.
And here’s the kicker:The difference was 7% more on average, compared to women who didn’t negotiate.
Hmmm, where have I heard that number before?
Not that it matters much. Because studies have found thatwomen have a higher job satisfaction than men despite perceived wage discrepancies, according to The New York Times
. A man who reports being unsatisfied with his job earns as much as a woman who reports being extremely satisfied with her job.
It’s also possible that all these disingenuous blow-hards who keep spreading this misinformation are causing women to expect lower pay, which causes them to have higher job satisfaction.
Here’s the video: