4. Financial managers
> Women’s earnings as pct. of men’s: 67.4%
> Women median weekly earnings: $1,127
> Men median weekly earnings: $1,671
> Number of workers: 1,133,000
Financial managers are responsible for their organization’s financial health. They produce financial reports, are in charge of direct investment activities and develop strategies and plans to achieve their organization’s long-term financial goals. Women outnumbered men as financial managers 606,000 to 527,000, but their weekly earnings were just 67.4% of what men earned in 2014. There were a total of 1.1 million financial managers, one of the largest workforces among occupations reviewed. While the pay gap is one of the worst, it improved from 2005 when women earned 63.3% of what men earned, a faster improvement than that of the nation.
3. Securities, commodities, and financial service sales agents
> Women’s earnings as pct. of men’s: 65.1%
> Women median weekly earnings: $883
> Men median weekly earnings: $1,356
> Number of workers: 235,000
Women employed as securities, commodities and financial sales agents earned less than two-thirds of what their male counterparts earned in 2014. Despite improving faster than the pay gap improved across the nation from 2005, this was a larger pay gap than of all but two occupations reviewed. People in the occupation facilitate deals between buyers and sellers in financial markets. They also offer trading advice to companies and individual investors. As is common in the financial sector, financial services sales agents are paid extremely well, regardless of gender. The median weekly earnings among workers in the profession was $1,122 in 2014, higher than the vast majority of occupations reviewed. Still, women earned 65% of what men did last year.
2. Physicians and surgeons
> Women’s earnings as pct. of men’s: 62.2%
> Women median weekly earnings: $1,246
> Men median weekly earnings: $2,002
> Number of workers: 759,000
Physicians and surgeons were among the highest earners — sixth highest overall — but had the second most severe earnings gap. While physician earnings vary between primary care doctors and specialists, female doctors earned 62.2% of what their male counterparts earned in 2014. Only female financial advisors had a larger pay gap. Because of the earnings gap, while male doctors were the third highest earners among men, female doctors were only the 13th highest earners among women. A recent study found women are over-represented in traditionally lower-paying specialties, like pediatrics, which could partly explain the earnings gap. In 2014, the median weekly earnings of physicians and surgeons was $1,661 with men earning $2,002 and women $1,246.
1. Personal financial advisors
> Women’s earnings as pct. of men’s: 61.3%
> Women median weekly earnings: $1,004
> Men median weekly earnings: $1,637
> Number of workers: 335,000
Female personal financial advisors earned 61.3% of what their male counterparts earned in 2014, the widest earnings gap among all occupations reviewed. The pay gap also worsened substantially from 2005, when women earned nearly 72% of what men earned in the profession. By contrast, the income gap improved slightly across all occupations over that time. Like many other occupations with wide gender pay gaps, personal financial advisors typically earned income through informal, more flexible channels such as commissions and bonuses. As Hegewisch suggested, men were frequently the recipients of these extra wages. Personal financial advisors, who offer advice to clients regarding taxes, investments and insurance decisions, are paid very well regardless of gender. The profession had median weekly earnings of $1,337 in 2014, one of the highest figures reviewed.
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