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Women - want to earn more than men on Wall Street? Shine Shoes

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workingmomgovblogsiteWomen who want to earn more on Wall Street than their male colleagues have one reliable option. They can set up a shoe-shine stand in Lower Manhattan.

Female personal care and service workers, which include butlers, valets, house sitters and shoe shiners, earned $1.02 for every $1 their male counterparts made in 2010, according to census data compiled by Bloomberg. That job category, which covers 38,210 full-time workers in the U.S., was the only one of 265 major occupations where the median female salary exceeded the amount paid to men. 

The six jobs with the largest gender gap in pay and at least 10,000 men and 10,000 women were in the Wall Street-heavy financial sector: insurance agents, managers, clerks, securities sales agents, personal advisers and other specialists. Advanced- degree professions proved no better predictors of equality. Female doctors made 63 cents for every $1 earned by male physicians and surgeons, the data show. Female chief executives earned 74 cents for every $1 made by male counterparts.

The Census Bureau figures underscore the lack of financial progress made in the generation since women began leaving the home and moving into the workforce in large numbers. While the worst economic downturn since the Great Depression initially hit women less severely, their median earnings still trailed men in 505 of 525 occupations tracked by the federal government.

“We don’t see the pay gap closing,” Ilene H. Lang, president and chief executive officer of Catalyst, a New York- based nonprofit group that seeks to advance women in business, said in a telephone interview. “It’s persistent.” 

Read More http://www.bloomberg.com/news/2012-03-16/shining-shoes-best-way-wall-street-women-outearn-men.html

See Also -  Have we really come a long way baby?

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Growth in women's share of science, technology, engineering and mathematics (STEM) occupations declined to 27% in 2011from a high of 34% in 1990. While women make up nearly half of the workforce, they were 26% of the STEM workforce in 2011.

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