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News from President Toni Preckwinkle

Behind the Scenes: Notes on Equal Pay for Women

Behind the Scenes-Equal Pay for WomenBehind the Scenes is an ongoing series on the people behind Cook County Government.  In this installment, MaryNic Foster, Executive Director, Cook County Committee on Women’s Issues talks about the real live ramifications women face over a lifetime of making .23 less on the dollar.  We’re also discussing this issue on our Facebook page.  Click here to join the discussion on equal pay for women.
 
Let’s begin this conversation with a few facts:

  • The Equal Pay Act was passed in 1963.
  • For the first time in March of 2010, among adults 25 & older women have exceeded men in earning bachelors and advanced degrees; according to the 2010 U.S. Census.
  • There are 20.1 million women with Bachelor’s degrees versus 18.7 million men.
  • There are 10.6 million women with Master’s degrees versus 10.5 million men.
  • In 2011, the average working woman still earns only $.77 to the average working man’s $1.00
  • Over a lifetime, a woman will earn $1 million less than a man simply because she is a woman
  • EQUAL PAY DAY was April 12th it symbolized how far into 2011 women must work to earn what men earned in 2010.
  • We had to work an extra 102 days to catch up – 102 days!!!

Now let’s take a good look at the facts above.  In 1963, the United States Government passed a law stating that my grandmother and my mother before me, and now I, was supposed to be paid the same as my male counterparts. But as we all know in America, people, let alone big corporations do not always follow everything to the letter of the law. Women are more educated than men but yet we are still earning less money. I will earn $1 million less over a lifetime. This will have a domino effect on my total financial future.  Because I will earn fewer wages than my male counterparts, my pension is less, my employee benefits are less, my 401K is less, and my savings for a rainy day will be less. Unfortunately, I will not incur $1 million less debt. My mortgage will not be less, my car loan will not be less, my school loans for the bachelors and masters degrees that were required for me to obtain the job that I will be paid $.23 less on the $1.00 than my counterparts will not be less.

I Want My $1 Million!!!!  I also want my 102 days back for each year I worked as well.

Does anyone else out there want their $1 million???

 

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