Study: Virginia in top 10 for smallest gender gap between high earners
RICHMOND, Va. (WWBT) - Virginia is ranked in a new study as the state with the 8th smallest gender pay gap, specifically between those who earn six figures.
According to a study out of MagnifyMoney, 72% of workers who make over six figures annually are men. In Virginia, 69.2% of workers in Virginia are men. That 2.8% difference is what makes the state rank 44 out of the 50 states plus the District of Columbia when measuring the biggest gender disparities. This also means the state has the 8th smallest gender disparity.
Out of all 50 states and D.C., Utah has ranked the highest disparity among high earners with 85% of six-figure earners being men and 15% being women. The lowest disparity was found in D.C. where 57% of high earners are men compared to 43% women.
However, when it comes to workers who make less than $25,000 annually, the national average of women representing the lower-income workforce is 57%. In all 50 states and D.C., there are more women earning less than $25,000 than men.
Virginia ranks 21st on that list with 58.4% of those earners being women.
Louisiana holds the number one spot for the highest percentage of women who earn less than $25,000 with 60% being women. Alaska ranks as the lowest with 54% of earners being women.
The study continues with those who earn at least $25,000 but less than $50,000 annually have a narrower gap between gender, 51% men and 49% women nationally.
“Women are always playing catch-up,” says Ismat Mangla, executive editor at MagnifyMoney. “They bear the brunt of low-wage jobs, and those low wages translate to a lifetime of being behind when it comes to building financial security.”
MoneyMagnify says there are many factors in why there is a gender pay gap, most being the structures put in place like sexism in the workplace.
“Even when men and women have the same level of experience and same job responsibilities, pay equity is never guaranteed.”
To read the full study and its findings, click here.
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