Glassdoor Economic Research has published a new multi-country study on the state of the gender pay gap in eight countries, including the US and UK, which has revealed that the gender pay gap still prevails and, if it remains at this current pace, pay inequality could continue until 2070.
Despite the gap narrowing slightly since Glassdoor's 2016 report, the unadjusted pay gap between men and women in the US is currently 21.4%, which works out to women making $0.79 for every $1 a man makes on average (in 2016 it was $0.76 to every $1, respectively).
This works out to women making on average $81,000 less than their male counterparts throughout their lives.
Even when statistical controls are applied for worker and job characteristics, such as worker age, education and occupation, the pay gap remains at around 4.9% (down from 5.4% in 2016). The results were similar across all eight countries the report covered, which were the US, UK, Canada, Australia, Singapore, Germany, France and the Netherlands.
Glassdoor chief economist Andrew Chamberlain remarked: "Over the past three years, company leaders, politicians, celebrities and more have called for an end to the gender pay gap. Glassdoor's comprehensive study put those words to the test to reveal that slight progress has been made to close the gap.
"Though a promising sign, it should not detract from the larger fact that significant pay gaps remain around the world, even after controlling for workplace and job factors," he added.
The gap tends to widen as women get older, with women between 18–24 earning 1.4% less than men while the time women are in their mid-50s to early 60s the gap widens significantly to 12.3%. Another driving factor was what the report calls the "confidence gap": More men in the survey described themselves as confident in negotiating a pay raise than women and they were more likely to ask for a pay rise in the next 12 months.
Annie Pearl, Glassdoor senior vice president and head of product and UX/design noted: "Knowing the facts about the gender pay gap is critical to helping close the gap. Combining knowledge with valuable resources is the next step to ensuring equal pay for equal work everywhere."