New research finds that women can make as much as men in 27 years
Mind the gap, please.
The pay gap between men and women in the developed world could disappear by 2044—if civil society, businesses and governments do the right thing, according to a recent report from Accenture. If that does happen, the death of the gender income divide would come 36 years quicker than previously anticipated.
While estimates vary as to the exact size of the pay gap, many economists agree that women in general make less than their male counterparts. By a popular measure, full-time working women make about 80 cents for each $1 a man makes. Accenture pegs the gap at $100 for every $140, or about 71 cents on the dollar.
The consultancy highlights several improvements that could make up the remaining $0.29. It suggests helping females become more digitally fluent and pushing women to make informed but ambitious choices when it comes to career goals.
Accenture calls the former, which refers to learning to use digital technology to connect and work, “the single most critical factor in closing the paygap.” It projects that adding 97 million tech savvy women to the workforce in the next two decades or so would reduce the paygap by 21% and boost women’s income globally by $1.9 trillion.
The outlook however isn’t all rosy, especially when it comes to the STEM fields. The survey finds that male undergrads outperform their female co-eds when it comes to continuously picking up new tech skills. Women are also less likely to take coding classes than men.
Income inequality is also a distant goal for women in the developing world. Accenture estimates that the pay gap could close for college-educated women outside the First World by 2066.
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