{"id":36384,"date":"2020-03-25T23:47:30","date_gmt":"2020-03-25T22:47:30","guid":{"rendered":"https:\/\/www.w-t-w.org\/en\/?p=36384"},"modified":"2020-03-25T23:48:11","modified_gmt":"2020-03-25T22:48:11","slug":"the-rising-earning-power-of-women","status":"publish","type":"post","link":"https:\/\/www.w-t-w.org\/en\/the-rising-earning-power-of-women\/","title":{"rendered":"The Rising Earning Power of Women"},"content":{"rendered":"

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The Rise of Female Breadwinners<\/h1>\n

Who is the higher income earner in your family?<\/p>\n

Over time, the U.S. has seen a rise in female breadwinners. In fact, the proportion of women who earn more than their male partners has almost doubled<\/strong> since 1981.<\/p>\n

Today\u2019s Markets in a Minute chart\u2013from New York Life Investments<\/a>\u2013illustrates the historical trajectory of women\u2019s earning power, as well as systemic challenges women still face.<\/p>\n

Then and Now: Gaining Ground<\/h2>\n

In the last 40 years, there has been considerable progress in both the percentage and number of female breadwinners.<\/p>\n\n\n\n\n\n\n
<\/th>\n1981<\/th>\n1991<\/th>\n2001<\/th>\n2011<\/th>\n2018<\/th>\n<\/tr>\n<\/thead>\n
% Female Breadwinners<\/td>\n16%<\/td>\n21%<\/td>\n24%<\/td>\n28%<\/td>\n29%<\/td>\n<\/tr>\n
# Female Breadwinners<\/td>\n4.1M<\/td>\n6.5M<\/td>\n8.1M<\/td>\n8.8M<\/td>\n9.6M<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

For families that had dual incomes, only 16%<\/strong> of households in 1981 had a female breadwinner. This was equal to about 4 million<\/strong> women across the country at the time.<\/p>\n

Fast-forward to the present, and close to 10 million<\/strong> married, female breadwinners were part of the U.S. labor pool in 2018.<\/p>\n

Breakthroughs Could Link to Education<\/h2>\n

Higher education rates and rising earning power are helping to decouple women from pre-existing financial stereotypes.<\/p>\n

For married female breadwinners*, the impact of education often plays out as follows:<\/p>\n\n\n\n\n\n\n\n
Education level<\/th>\n% of Women Earning Equal or More Than Partner<\/th>\n<\/tr>\n<\/thead>\n
More education than partner<\/td>\n49%<\/td>\n<\/tr>\n
Same education as partner<\/td>\n29%<\/td>\n<\/tr>\n
Less education than partner<\/td>\n20%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Source: Pew Research Center<\/a>
\n*Over age 25<\/p>\n

The odds of a woman earning the same or more than her partner skyrockets nearly 250%<\/strong> if she has more education, compared to if she has less education.<\/p>\n

Interestingly, when it comes to career trajectories, women and men share similar decision-making rationales. Among surveyed women<\/a>, 83%<\/strong> were more likely to delay having kids in order to advance their careers, compared to 79%<\/strong> of men. The primary reason: to help secure a stronger financial standing for their future children.<\/p>\n

While it is clear that women have become a growing financial force over time, they still face many persistent challenges today.<\/p>\n

A Chorus of Systemic Barriers<\/h2>\n

Women experience a litany of headwinds, both overt and subtle. What are some variables that continue to have a pervasive impact on women\u2019s finances<\/a>?<\/p>\n

Media Bias<\/strong>
\nAccording to one study, 65%<\/strong> of media language directed towards women and their finances surrounded \u201cexcessive spending\u201d. In contrast, 70%<\/strong> of language towards men discussed \u201cmaking money\u201d as a masculine ideal.<\/p>\n

Financial Well-being<\/strong>
\nAccording to a global survey, 85%<\/strong> of women manage day-to-day expenses as much as or more than their spouse. However, 58%<\/strong> of women defer long-term financial and investment decisions to their husbands.<\/p>\n

Gender Wage Gap<\/strong>
\nBased on the median salary for all men and women, women earn 79 cents for every dollar men make in 2019. The gap starts small and continues to grow as people age. How can women close the gap? The Georgetown Center on Education and the Workforce has some advice:<\/p>\n