Pay, Advancement Gaps Still Exist
#evolve Magazine
October 22, 2021
Compiled By Mark McGraw

Racial pay disparities are more pronounced among workers with more education. In 2019, for example, the wage difference between White and Black men without bachelor’s degrees was around 16%, while the wage gap between White and Black men with bachelor’s degrees or higher was roughly 24%.

Source: The Conference Board, Mind the Gap: Factors Driving Racial Wage Gaps and the Solutions to Close Them

Female representation on the boards of directors of Russell 3000 companies has increased more than 60% since 2016, reaching nearly 25% overall.

Source: Equilar, Q1 2021 Gender Diversity Index

In 2020, women earned 84% of what men earned, and, based on this estimate, it would take an extra 42 days of work for women to earn what men did last year.

Source: Pew Research Center, Analysis of Current Population Survey Data

Men are more likely to reach the director of executive level in their careers than women, with a total of 12% of men moving into executive-level roles at some point of their careers, compared to 7% of women.

Source: Payscale, The State of the Gender Pay Gap in 2021

"... business leaders and policymakers alike must recognize the recent trends in racial disparities in the 21st century economy. Differences in educational attainment, lack of access to professional networks and legacies of bias continue to play key roles in White-Black earning gaps. But, increasingly, reversing these trends will require addressing deeply rooted market segmentation and geographical segregation in restricting access to high-growth fields."
— Gad Levanon, vice president of labor markets at The Conference Board.
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