For women, the 'New Economy' is very much like the old one

Jose G. Perez jgperez at SPAMnetzero.net
Fri Dec 22 18:35:15 MST 2000


[From The Standard, self-proclaimed "Intelligence for the New Economy."]

Still a Man's World?

The wage gap between men and women still persists, even among Internet
Economy employees.

By Laura Carr

The Internet Economy has allowed many workers to escape the traditional work
culture of old-economy companies. But one element has been carried over from
the old to the new: Women still make less money than men.

In September, The Standard released the results of our compensation survey
of nearly 2,600 newsletter subscribers. The Internet Workforce Compensation
Study 2000 found that the median cash compensation - base salary plus bonus
or commission - of an Net economy worker is $83,000. We dug deeper into this
data to find out if this prosperity is enjoyed equally across gender lines.

The Standard's analysis shows that the median base salary for women working
in the Internet Economy - $60,500 - is 24 percent less than the $80,000
median base salary for men. Women also are not getting the same bonuses as
men. The median bonus for women is half of what men receive: $7,000,
compared with $15,000. And while 64.1 percent of men receive a bonus as part
of their compensation package, only 60.6 percent of women report the same.

The disparity in bonuses increases the overall gender wage gap. Female
participants in the study had a median total cash compensation of $66,000 -
27 percent lower than the median total cash compensation for men, $91,000.
These findings are consistent with the data reported by the U.S. Bureau of
Labor Statistics. In general, women over the age of 25 and working full-time
are making 26 percent less than their male counterparts.

This gender wage gap among Americans overall, and Internet Economy employees
in particular, persists even when education, position and industry sector
are considered. The Standard's data do not offer an explanation for this,
especially when recruiters say they see no difference in starting salaries
based on gender. "To deny the glass ceiling may exist would be idiocy, but
even more idiotic is to allow it to continue," says Tom Casey of Unifi
Network, the global human-resources consulting arm of
PricewaterhouseCoopers.

But being a woman in the Internet Economy isn't all that bad. On average,
women say they put in a slightly shorter workday - clocking 9.7 hours,
compared with the 10.3 hours for men. Just over half of women work at least
one weekend a month, while 61 percent of males report the same. And more
women say they are compensated for extra hours worked at the office - 16
percent compared with 12 percent of men. But these factors are not enough to
account for the gender wage gap. Sometimes the more things change, the more
they remain the same.






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