TriNet SMBeat Report Highlights Pay Gap between Men and Women
TriNet, a leading cloud-based provider of HR services, has announced the findings of its July 2014 issue of TriNet SMBeat, which features an analysis of specific gender trends in salaries and workforce composition across different industries in the United States. The report highlights that during the first quarter of 2014, women on average earned 83 cents for every dollar a man earned.
The data is sourced from TriNet’s more than 9,000 clients and more than 258,000 worksite employees in the U.S. plus data from the Bureau of Labor Statistics. Several additional key findings of the report include:
- On average, the annual salary in 2014 for workers across all industries in the United States was found to be $45,084 for men and $37,232 for women, amounting to a 17 percent salary gap.
- When looking at the variation across executive level employees, men in these positions made median base salaries of $175,000 while women make $148,980. Also, men held 85 percent of these executive jobs.
- For the financial services industry specifically, men earn median base salaries of $90,964, while women earned $50,000. However, there was a more balanced ratio of men to women in this sector, with 57 percent men and 43 percent women. The financial services sector had the largest gender salary gap for executives, with women earning 69 percent of men’s median base salary.
- In the tech sector, men earned a median $105,000 and women earned $70,000 in annual base salary. The tech sector executives had the most equitable base salary across all verticals. Female tech executives earned $164,008 compared to $169,173 for men.