Equal Pay Day 2020: Women Still Struggle for Parity

On average women are earning 79 cents to every 1 that men take in amp8212 or a 214 percent unadjusted discrepancy amp8212 according to a report by Glassdoor The unadjusted estimate does not factor in education industry or location but is a slight improvement from 2016 when women took home 76 cents to every dollar earned by menThere39s still plenty of work to be done to correct that imbalance The US lags behind other Western countries in the unadjusted wage gap including Canada where women earn 84 cents to every 1 for men Australia 85 cents to every 1 and France 88 cents to every 1When comparing workers of similar age education and experience the gap is reduced to 191 percent Refining that even further to the same employer location and title the wage difference narrows to 49 percent However younger women are faring better with women 18 to 24 years old facing a 14 percent pay difference compared to 123 percent for women 55 to 64 years old amp8212 more than double the national average In a sobering prediction Glassdoor estimates it could take until 2070 to close the adjusted pay gapIn today39s economy where nearly half of women work outside the home female workers are struggling for both equal pay and equitable advancement Women are challenged to break into the managerial and executive ranks stumbling on a socalled quotbroken rungquot where women can39t ascend the corporate ladder In fact one in four women thinks gender has played a role in missing out on a promotion raise or opportunity to advance according to a LeanInOrg and McKinsey ampamp Company studyAmong industries in the US advertising entertainment and media are often lauded for creative freedoms and strong female representation However even in these progressiveminded businesses equal pay remains elusive The media industry struggles to compensate women equally In its 2019 study Glassdoor reported that women in media earned 64 percent less in adjusted income than their male counterparts securing media the unfavorable distinction of the largest gap It tied with retail followed by construction repair and maintenance as well as oil gas and energy both at 62 percent and then insurance 59 percentWithin audio and music women make up just 15 percent of executives at record labels 14 percent of songwriters 5 percent of audio engineers and 5 percent of producersThe booming digital audio sector is emerging as a bright spot Relative to other media digital audio is a nascent industry which allows for more experimentation and advancement As a newer entrant digital audio is unencumbered by decadesold gender inequities that plague more established media channels and women are thriving in advertising digital streaming podcasting and technologyPodcasting in particular offers opportunities in front of and behind the microphone In Q2 2019 about 40 percent of podcasts were hosted by women according to estimates by Lisbyn With the number of podcasts now past 1 million that figure is likely even higher now as the volume of content growsPandora is one company committed to the advancement of women and celebrating their contributions Pandora for Brands39 new quotPandora Presents Pass the Micquot campaign applauds women and commends their professional accomplishments across the advertising entertainment and media industries These inspiring women are doing their part to bridge the gender gap and raise awareness Through articles blogs and podcasts Pandora is featuring brilliant and accomplished female artists entrepreneurs and executivesThis Equal Pay Day Pandora is also celebrating the progress that women have made Since 2015 the number of women in senior leadership positions has grown particularly among the top executive ranks In Csuites the number of women is up 21 percent according to LeanInOrg39s 2019 workplace studyAs more women ascend to managerial and executive roles the wage gap should narrow but companies and individuals need to commit to fostering female talent and promoting their advancement LeanInOrg39s study also found that for every 100 men who are promoted or hired as a manager only 72 women received similar opportunities Within organizations men claim 62 percent of manager positions compared to just 38 percent for women Onefifth of women say making this jump is the most difficult part of their professional journey and 40 percent say they39re judged differently than menTo repair those broken rungs and narrow the wage gap companies should consider these stepsSet goals for women in firstlevel managementRequire diversity for hiring and promotionPut evaluators through better trainingEstablish clear standards for evaluationConsider female candidates for promotionPromote worklife balance to keep women in the workforce and on track for advancementDevelop and encourage networking and mentorshipPandora believes in a workforce that is reflective of our multicultural society and strives for inclusivity in its brand corporate initiatives and live events The company is committed to diversity and playing a leadership role in our industry and society Closing the wage gap and promoting the advancement of women are steps towards achieving that goalDon39t stop now Stay in the know on audio and listener trends with more from Pandora InSitesClick the social buttons to share this story with colleagues and friendsThe opinions expressed here are the author39s views and do not necessarily represent the views of MediaVillagecomMyersBizNet

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Equal Pay Day 2020: Women Still Struggle for Parity

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Alli Romano

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Equal Pay Day 2020: Women Still Struggle for Parity

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