From pioneering entrepreneurs, to powering half the city’s workforce…in every way, women contribute to the health and vitality of our city.
Yet even in 2018 – women are consistently underpaid and undervalued for their work.
So for Equal Pay Day, we wanted to run the numbers. We released a first-of-its-kind analysis on the gender wage gap in some of the most common New York City occupations.
And the wage gaps this report reveals – particularly for women of color – are downright despicable.
We found that even in the same lines of work, the gender wage gap can stretch to nearly $140,000 a year.
And for women of color – the results are the starkest.
Among financial managers, Black women are paid 39 cents to every dollar earned by a White male financial manager.
And while the wage gap by gender is narrower in some professions where women have historically been overrepresented, racial wage gaps persist, exceeding the gender pay gap in some instances.
What does this mean? It shows the need for a racial lens to be applied to all efforts to achieve gender equity. Because women – and especially women of color – are collectively being robbed of hundreds of thousands in potential earnings, every year.
At the Comptroller’s Office, we’ve used our platform to shake up corporate America and increase gender and racial diversity in corporate boardrooms. And we’ve fought for women- and minority-owned businesses, right here in the City, to get a fair shot.
On Equal Pay Day – we’re redoubling our efforts in the fight for equal pay for equal work. We need to unstack the deck for women across our city.