Most hardworking Americans already know about the gender pay gap. But recent data reveals there is a certain type of company that could be giving working women fairer wages. However, the gap has only lessened.
According to a new analysis by real estate database Redfin, and PayScale, a company that gathers data of individual salary profiles, the gender pay gap is half the size at technology companies with more women executives.
To determine these findings, Redfin examined the gender makeup of executive teams at 31 of the largest U.S. technology companies. PayScale then analyzed 6,562 salary profiles of people who reported working for these companies between June 2015 and 2017.
Based on this conducted research, it was discovered that companies with more women executives have a two-cent pay gap. So for every dollar men earn, women earn 98 cents. While a mere two pennies might not sound like much, it adds up. In fact, the study noted that this inequality adds up to tens of thousands of dollars over a woman’s career.
While the gap has only narrowed, it is notable that at least the issue is gaining attention. In 2015, Redfin decided to start publishing its pay gap and other diversity statistics as a way to encourage other companies to be transparent with its information, as well as hold itself accountable.
"Increased transparency is one way we can work together to close the pay gap in our industry," said Bridget Frey, Redfin CTO.
However, the gender wage gap is just one challenge working women face with when it comes to issues of diversity. In a world once dominated by men, women continue to become trailblazers in the housing and mortgage industry. And each year, MReport magazine likes to celebrate these leading ladies in the industry with a special Women in Housing edition.
Want to be one of MReport's leading ladies? Know a female colleague that's a groundbreaker for the industry? Click here. Deadline for inclusion is August 7.
This issue is published in conjunction with the Five Star Institute’s Women in Housing Leadership Forum, the concluding event at the Five Star Conference and Expo, happening September 18-20, 2017, at the Hyatt Regency hotel in Dallas, Texas.
To view all of Redfin’s data, click here.