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A $7 Trillion Problem - The Higher That Women Climb, the Further Behind They Fall
Despite increased awareness of the gender pay gap stemming from Equal Pay Day and fair pay legislation, there is a persistent gender pay gap between men and women. Studies show that gap extends to male and female physicians. According to the latest Medscape physician compensation report, the disparity cannot be explained by choice of specialty. Among primary care physicians, women earned 25% less than men, and among specialty care physicians, women earned 31% less than men.
Counterintuitively, professional advancement, which should help women close the gender gap, actually makes things worse. As women climb the professional ladder, the pay gap widens, according to a new report by Moody’s Analytics. Differences in skill or labor force participation do not explain this trend.
This has negative repercussions for the future generation of healthcare workers. A recent study found that even among younger workers, women expect to earn less than men. Moody’s estimates that the underutilization of women’s skills and talents costs the global economy $7 trillion.
MSDC leaders have expressed concern over such findings and is working to address gender equity among physicians in the District of Columbia. To find out more, get involved in the Gender Equity Task Force.
Public Health News
A $7 Trillion Problem - The Higher That Women Climb, the Further Behind They Fall
Despite increased awareness of the gender pay gap stemming from Equal Pay Day and fair pay legislation, there is a persistent gender pay gap between men and women. Studies show that gap extends to male and female physicians. According to the latest Medscape physician compensation report, the disparity cannot be explained by choice of specialty. Among primary care physicians, women earned 25% less than men, and among specialty care physicians, women earned 31% less than men.
Counterintuitively, professional advancement, which should help women close the gender gap, actually makes things worse. As women climb the professional ladder, the pay gap widens, according to a new report by Moody’s Analytics. Differences in skill or labor force participation do not explain this trend.
This has negative repercussions for the future generation of healthcare workers. A recent study found that even among younger workers, women expect to earn less than men. Moody’s estimates that the underutilization of women’s skills and talents costs the global economy $7 trillion.
MSDC leaders have expressed concern over such findings and is working to address gender equity among physicians in the District of Columbia. To find out more, get involved in the Gender Equity Task Force.
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