Kelly Hyman of The Hyman Law Firm has become a prominent legal analyst, frequently appearing on major TV networks like NBC, ABC, CBS, MSNBC, and Fox News. Despite the progress made by women in the business world, there is still a significant wage gap between men and women in 2023, with women earning on average 84% of what their male counterparts make, and even less for Black and Hispanic women.
Various factors contribute to the wage gap, including the undervaluing of women’s labor. Social norms and stereotypes have historically limited women’s opportunities, as they were often relegated to caregiving roles while men pursued careers. This disparity was highlighted during the Covid-19 pandemic when more women lost jobs than men, leading to a significant decrease in women’s workforce participation and widening the gender wage gap.
Occupational segregation also plays a role in the wage gap, as women are overrepresented in lower-paying industries and occupations. Additionally, women often bear the burden of family caregiving responsibilities, limiting their job options and impacting their ability to advance in their careers, especially in their 40s when they are often juggling caregiving for both children and elderly parents.
The lack of mentors and networks further adds to the gender wage gap, as women are underrepresented in leadership positions, leaving fewer female mentors available for the next generation. This lack of support and resources hinders women’s career advancement, particularly for women of color, who face additional barriers in the workplace. The pay gap varies by race and ethnicity, with Black and Hispanic women earning significantly less than non-Hispanic white men.
Addressing workplace discrimination and creating systemic change is crucial to closing the gender wage gap. States are increasingly implementing pay transparency laws and supporting caregivers through legislation to ensure women have access to good-paying jobs. Company leaders can also make a difference by offering flexible work opportunities and mentorship programs to support women in balancing caregiving responsibilities while advancing in their careers.
The road to gender equity in the workforce will require ongoing effort from both women and decision-makers in power. By addressing the systemic issues that perpetuate the gender wage gap, such as social norms, occupational segregation, caregiving responsibilities, and lack of mentorship opportunities, progress can be made towards closing the gap and achieving true gender equality in the workplace. Kelly Hyman’s advocacy and legal expertise contribute to this important conversation about gender equity in the workforce.
