Sometimes even breaking the glass ceiling isn’t enough to achieve pay equity. Researchers at the New York Fed found that even at the highest levels of corporate America, the gender pay gap persists. Female executives see an even greater disparity in compensation than women in working-class jobs, as they get less incentive pay (stocks, bonuses, etc.) than their male peers. The reason for this, according to the researchers, is that women don’t have access to the same “old boys’ club:” they are younger and have looser networks, which means fewer supporters on their company’s board and less negotiating power to get a compensation package approved. Claudia Olivetti, an economist and one of the researchers, sees some upside to the results, however. “The good news is that part of the gender differences in compensation can be explained by the fact that female executives tend to be younger and have shorter tenure than male executives — there are very few women in the earlier cohorts,” Olivetti said. “So going forward, as more women get into the ranks of executives and start having longer tenure, things should improve.”
Read the full story at The Huffington Post.