Many factors and elements contribute to the gender wage gap, including race and ethnicity, disability, educational attainment, and age. As a result, income disparities between various groups of women are significant. The income gap between men and women is a complicated issue that will need extensive remedies (Cortés and Pan). Blaming women for not earning more should not be part of any serious attempt to explain the gender wage gap. Instead, these initiatives should look into how our economy gives women uneven opportunities at every step of their education, training, and job choices.
Discrepancies in compensation, discrimination in the employment process, differences in pay negotiations, differences in schooling options, and differences in professions that men can accept compared to positions that women can’t find are all factors that contribute to the gender pay gap. The income disparity between men and women is a fact, and it disproportionately affects women (Cortés and Pan). Too frequently, it is considered that this disparity is not due to discrimination, but rather is the statistical outcome that might cause wage disparities between men and women. However, gender bias affects these characteristics, particularly occupational inequalities between men and women (Cortés and Pan).
The adjusted gender pay gap effectively confines the discussion to the function of gender discrimination within the same economic framework of costs and benefits (Grimes et al.). The gender gap, on the other hand, is related to other dimensions and concepts. Given that many of the variables driving the pay difference are attributable to labor market rigidity, which, if remedied, might benefit the economy by raising total production, the gender pay gap can be regarded as a potential source of productivity gains (Grimes et al.). Furthermore, reducing the pay gap between men and women will benefit women, as well as boost corporate efficiency, resulting in increased bargaining power, another essential economic notion. Finally, if done correctly, economic clarity about compensation ranges can prevent any unreasonable inequalities between employees.
In one of the articles I have found on the Internet, a journalist, A. McGough, shares stories of women who were affected by this social issue and reflected on it. She explicitly argues that despite legal commitments and attempts to lower the gap, there are still a lot of discrepancies in the wages (McGough). Moreover, some of the women admit that when they question equal payment, they face criticism from managers or even can be fired (McGough). Thus, the author argues that the legal response for the issue is not sufficient (McGough). Even though women are advocating for the pay they deserve, the issue is still prevalent.
My personal reflection on this social issue is also connected with my personal experience. While one of my acquaintances found out that her male colleague earns more than she, even though they started at a similar position simultaneously, she advocated for the equaling of the salary. However, the manager refused to do that, which made her quit and look for another position. The research only confirmed the importance of the issue and the lack of real legal response.
Overall, gender wage pay is a severe economic and social issue, which affects not only the social status of women and their rights but also economic development in general. Being connected to several economic factors and concepts, the closing of the gender wage gap will positively affect the economy and lead to the improvement of the social and legal status of women. Aside from the research, my personal experience confirms that the issue is acute and requires legal and social actions.
Works Cited
Cortés, Patricia, and Jessica Pan. “When time binds: Substitutes for household production, returns to working long hours, and the skilled gender wage gap.” Journal of Labor Economics vol 37, no. 2, 2019, pp. 351-398.
Grimes, Paul, Charles Register, and Ansel Sharp. Economics of Social Issues. McGraw-Hill Higher Education, 2015.
McGough, Annelise. “Pay Gap Stories from 19th Readers on Equal Pay Day”. Web.