A theme emerged for the Friday Five this week, purely by accident. Though perhaps I can blame the election season for so many good reads on income gaps and (not so successful) diversity initiatives. I expect to see more and more of these kinds of articles as the race for the White House heats up — and I’m not mad about it!
Here is your Friday Five:
A new study shows that social mobility decline sharply in the US throughout the 1980s to the 2000s, making it more likely that the poor stayed poor.
“Those who make very little money in their first jobs will probably still be making very little decades later, and those who start off making middle-class wages have similarly limited paths. Only those who start out at the top are likely to continue making good money throughout their working lives.”
Starbucks employees are getting a 5% raise but workers at store level aren’t happy about, saying that the 5% increase will be so small as to be unnoticeable, especially for employees who are on one or another form of social assistance. Instead, many workers are advocating for a living wage.
Join us on 4/19 at 12:00 PM EST as we learn how to supercharge your talent brand. Register here.
The wage gap between male and female doctors in the US is $20,000, according to a new study. That’s a significant gap! The cause, as with other pay gaps, is a combination of different job tracks and unequal raises.
“When the researchers compared the salaries of male and female doctors, they found that while male doctors earned, on average, an annual salary of $257,957, female doctors took home just $206,641.
‘The average female physician earns about $50,000 less than the average male physician, but that’s before you start to account for any differences between male and female doctors,’ said Jena. Among these differences were the findings that female doctors were typically younger, less likely to be full professors, and have fewer scientific publications than men.”
On Thursday Facebook said that it had made modest progress with its diversity initiative but blamed a lack of talented applicants for the slow going. Facebook claims that the talent pipeline, particularly at public schools, is to blame for the supposed lack of diverse applicants — despite ample evidence that the pipeline and a lack of applicants isn’t the cause of undiverse workforces.
The gender pay gap persists and Reva Seth says that talking openly and frankly about wages can help us close it. Talking about wages helps us better understand what our colleagues are making and what our own worth it. It also helps us see bias in promotions and raises much easier. So talk money with your friends — it’s good for you!