The latest in the gender pay gap in the US: “Women have to have a PhD to make as much as a man with a BA.” The recent report from Georgetown called “The College Payoff: Education, Occupations, Lifetime Earnings” presents findings that
- Women earn less at all degree levels. Compared to men, women who work full-time, year-round jobs earn roughly 25% less at equivalent levels of educational attainment. If we were to calculate in women who had to leave work to raise children or as the result of a disability into this comparison, the difference is even larger. By that expanded definition, women without high school degrees earn a ridiculous 90% less than their male counterparts. Those with BAs earn about 45% less.
- Let me just repeat that women have to get a PhD to earn the same as a man with a BA.
- Persons of color earn less at all degree levels. In fact, African Americans and Latinos who hold Masters degrees still earn less than Caucasians with BAs.
- Going to college makes a huge difference in income. On average, BAs make 84% more that those with just high school diplomas over their lifetime. There is even a stark difference among levels of educational attainment within the same occupation.
- No matter what post-secondary education you receive, you’re at a sizeable lifetime financial advantage.