More Than Half Of American Women Are Breadwinners, Study Finds
The majority of American women are now breadwinners in their households, according to a survey conducted by Prudential Financial.
Of the more than 1,400 women surveyed -- 40 percent of whom were
single or divorced -- 53 percent were the breadwinners in their
households. Nearly a quarter of married women surveyed said they earned
more money than their husbands. (Hat tip: Wall Street Journal)
In the past decade the income gap between women and men has narrowed, a topic that was explored in Washington Post reporter Liza Mundy's recent book "The Richer Sex," which forecasted that women are on track to outearn their husbands.
Mundy's prediction stems from a number of other gender-related shifts that have taken place in recent years: Colleges are graduating more women than men; women under 30 earn more than their male counterparts in most of America's largest cities; and women now comprise about half of the workforce.
Though women are making gains, the Prudential Financial study found
they still lag behind men when it comes to financial literacy and
confidence: Only 23 percent of female breadwinners said they felt
equipped to make financial decisions, much lower than the 45 percent of
their male counterparts who said they did.
Confidence in money matters has a number of repercussions, from
saving for retirement to salary negotiation. Many women won't reassess
their earning potential to make sure they're getting what they deserve
without being pushed to do so, financial advisors told the New York Times in 2010.
Even though wage inequality has become less significant for younger
women, the gender pay gap still exists and reportedly becomes wider with
age. On average, women still get paid just 77 cents for every dollar a man earns doing the same work.
The pay divide is even greater in finance jobs. A woman financial
manager earns 66 cents for every dollar a man earns to do the same job.
And while women are gaining ground in obtaining degrees, a 40 percent salary gap exists between men and women with MBAs, 10 to 15 years into their careers.
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