Men Outearn Women, Especially on Wall Street

The gap in wages between men and women has been going on for a century. One would think, with the women’s rights revolution, the accelerated numbers in higher and college educated women and a supposedly more ‘enlightened’ time that the gap in wages would have been equalized. There are some work areas that has been accomplished, with women equaling the income of men for the same job position. However, it seems that the financial investment line of business, specifically Wall Street, remains a ‘good ol’ boy’ network, with women making less than men than in any other economic area.

The economy has had an incredibly bad affect on the amount of money women earn in the business world. While there were gains that were showing in the 90’s, these were catapulted backwards when the economy plunged into the recession. Across the U.S., in all types of occupations, women have been returned to earning 77 cents compared to every dollar that is earned by men. On Wall Street, this inequality is even more evident, as women earn 55 cents to 62 cents for every dollar that men on Wall Street make. This information has been collected from Bloomberg News in a recent status data collection study.

The financial sectors have continued to grow, and, those in the banking industry have continued to collect incredibly high paychecks, even during the downtrend of the economy. This has been happening for quite some time; however, women seem to be the one sector that has not shared-in-the-wealth of these trends. Another rather interesting fact is that since 2000, the number of women in the financial sector has experienced a decrease, however, there has been an increase in the quantity of sexual harassment charges that women have filed; most notably in the 2008 and 2009 years.

According to a report by FINS, a Dow Jones web property, women that have jobs in the financial world of Wall Street have experienced a sense of belittlement in the male oriented world of finance. They have reported that they are passed over for job advancements due to the fact that they don’t socialize with the men. Even worse, they have reported that the men in the financial world often go to unsavory strip clubs as well as having prostitutes brought into the offices.

This kind of behavior is unacceptable, no matter what line of business and returns everything to a time when women were little more than secretaries and ‘arm candy’. This treatment of women in the world of Wall Street and financial industries demeans and degrades and will not be tolerated. The men on Wall Street have already set a standard of greed that the country simply will not forgive. This is adding insult to injury as they present yet another facet of their distasteful behavior.

One would question as to why men in the financial and Wall Street world would be allowed to get away with this treatment? Well, like any economic downtrend, where even employers in all industries take advantage of those in need; it’s because they think they can. However, right now, the eyes of the country are all on Wall Street. People from all walks of life are watching and shaking their heads at behaviors that are not only unacceptable, but down right loathsome.

If Wall Street wants the country back in its corner, the men had better grow up and start to demonstrate less greed, more respect and also stop trying to overcompensate for their ‘short comings’ through mistreatment of women.

Sources:
http://www.inforum.com/event/article/id/354902/group/Business/

The information supplied in this article is not to be considered as medical advice and is for educational purposes only.