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These articles are extremely misleading. The “80 cents on the dollar” statistic that is commonly thrown about is derived by taking the total annual earnings of men in the American economy in a given year and dividing that by the number of male worker, doing the same for women and comparing. This does not take into account occupation, education, years in the workforce, etc. the reality is women often tend towards lower paying job such as teachers and caregivers.

I would not be surprised therefore that even the specific finance stats here are the same. For example, quite a few women are in FP&A but I was the only one on my investment banking team. So if there are few women in IB/PE where the pay is significantly higher, than the average woman in more will make less.

In my experience, my salary has not been lower than men. The other piece, is that I negotiate - yes raises and bonuses, not just new salaries. Women are often less assertive and that does not serve them well in this situation. Women have to learn to take that control on themselves.

Don’t be so quick to believe every statistic without understanding the underlying data. We are in finance so we are that smart. 😊 And we are only victims if we believe in that mindset.

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Exactly this. ~95% of the pay gap can be determined by factors that make sense once accounted for and only a small percentage is attributable to ingrained personality differences like less likely to negotiate or actual discrimination, but for the most part companies will also get in big trouble these days if it was found out they were actually paying women less for the same yoe and position, so it probably rarely happens

In terms of stats, I’d recommend the book “invisible women” and it’ll help explain the why!

https://www.amazon.com/Invisible-Women-Data-World-Designed/dp/1419729071

Where is the news there? What kills me is that is even other women doing it to women.

My counterpart is making around 220K and I am making 110K. So it’s not 13% in UBS. It’s 100% wage gap.

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