You would think today’s college graduates wouldn’t see the same imperfections in the workplace that have plagued women for generations. Instead, though, women – even those just out of college – are already earning $8,000 less than their male counterparts. A new study shows that women who are working full time jobs one year after graduating college are only earning eight two cents for every dollar earned by a man. The American Association of University Women released the report and based its findings on data from the Department of Education.
Among its findings:
Men earned average salaries of $42,918
Women earned $35,296
That’s an almost $8,000 difference according to the report.
Still a Gap
You hear in the news that women are now out-earning their male peers, but what we found in looking at those emerging from college is that there is still a gender pay gap,
said Catherine Hill, director of research at AAUW. And it’s not likely to change in the near future, either.
Wondering why, in our modern society, this is still the case? The report suggests that men are choosing majors that offer bigger opportunities in a wider range of career options than their female counterparts. Men are still choosing majors such as engineering at much higher rates than women. Men are more opt to work later hours, too, which puts them in a better position for a raise. Still, though, the report shows that with matching educations, men are still outpacing women in terms of their salaries.
Referred to as “female business majors” in the report, the numbers show that women are earning slightly more than $38,000 each year while men are earning more than $45,000. For teachers, (teaching is generally regarded as a more balanced career choice for both sexes), women still earned 89% of what men earned.
Now, there are reports that gender discrimination could be playing a bigger role than many previously believed. Men and women borrow the same amounts of money to pay for their education, women are paying 8% – and even higher at times – on their student loans while only 40% of men were paying the same monthly amounts. It should also be noted the AAUW says that when based on pay, it’s unmanageable or even unrealistic for women to spend more than 7.8% of their monthly salaries on their student loan debt; however, 53% of women are paying more than that anyway. At the same time, only 39% of men are paying more than the 8.9% that AAUW suggests is affordable for men.
The authors of the report also say men tend to be more assertive in negotiating their salaries. Either way, this means women are earning less money, which means they’re at a disadvantage for everything from getting their student loans paid down to qualifying for a mortgage to being able to pay down credit card debt. Some are also saying that women are still more likely to sacrifice hours at the office for family time. If a child is sick, the school will likely call mom before calling dad – and that can make a difference to the bottom line.
With all of that in mind, we thought we’d take a look at a few credit card offers women – no matter how much they’re earning – can appreciate. Here are a few card offers that provide impressive rewards. Every little bit helps, right? And for the gentlemen out there – these aren’t limited to just the fairer sex. Take a look –
Discover Escape Credit Card
We all know the consistent number one ranking Discover enjoys. It takes care of its card members. One thing’s for sure – this is a great card offer that isn’t skimpy with its perks and benefits.
It’s all about the benefits with Discover. First, you’ll enjoy an intro 0% APR for both your purchases and your balances, making it ideal for paying down credit card debt – and student loan debt. After your intro rate expires, you’ll still enjoy a comparable APR. And if it’s travel you’re longing for, there’s plenty of opportunities to save on those expenses too, via the rewards program. Enjoy two rewards miles for every dollar spent and they’re easily converted – you can even give them as gift cards if you’d like.
The Discover online shopping mall is perfect for the upcoming holidays – you’ll enjoy significant savings year round and during the holidays, it’s all about the retailers. No restrictions on your hotels or airlines, you don’t need perfect credit (though you do need a strong credit score) and with customer service available around the clock, use the Discover Escape with confidence.
Capital One Venture
This is one rewards card that offers users a host of great benefits. It’s a versatile choice that gives two miles for every dollar spent on every single purchase. Plus, you’ll also enjoy the opportunity to earn bonus miles once you sign up. Remember, too, that the Capital One Venture credit card named “Most Rewarding if You Crave Free Airline Flights” by Money Magazine. There’s a $59 annual fee; however, it’s waived your first year. Around the clock customer service and travel and emergency assistance is there 24-7, too. A good credit score gets you approved and the many benefits and great customer service keeps you coming back.
Chase is known for its versatile selection of credit card offers and the Chase Freedom MasterCard is one of its most popular. We like this credit card offer for its $100 cash back bonus you’ll earn after spending $500 during your first three months of ownership. And – the best part – is there’s no annual fee. The rotating quarterly savings give you ample opportunities to really take advantage of additional savings – from restaurants to gas savings to cash back – Chase has a powerful family of credit card offers for every consumer.
We might not can negotiate a higher salary for women, but we can sure provide tried and true ways of getting to the best credit card offers on the market today.
So what are your thoughts on men and women and the differences in their earnings? Share your thoughts with us!
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