Average Salary Rose; Women Still Lag Behind

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Average Salary Rose in 2020; Women Still Lag Behind

(FinancialHealth.net) – In January, the average hourly wage rose 7 cents to $28.44. Unfortunately, not everyone is pleased with their pay.

There are now more women in the U.S. workforce than there are men. Women filled 95% of the jobs created in December 2019. This milestone, which has only happened twice in history, is likely due to growth in industries that female workers dominate, like education and healthcare. In many cases, they’re still earning less than their male counterparts.

The Economist explains the gender pay gap:

There are many reasons the pay gap between men and women persists today, but one reason is male job seekers ask for more.

ZipRecruiter Labor Economist Julia Pollak recently published a report that found men ask for $11,000 more in salary than women. That means female job seekers have to negotiate their pay more aggressively. Pollak suggests they apply to many companies and have plenty of alternatives when they begin hammering out pay.

Women won’t erase the pay gap overnight, but they can fight for themselves. Remember, you are your best advocate. Don’t be afraid to ask for what you’re worth; the worst an employer can say is no.

~Here’s to Your Financial Health!

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