Close the Gap Infographic
What’s the Message We’re Sending About a Woman’s Worth?
Learn what UKG is doing to help close the wage gap.
CLOSE THE GAP
18¢ Pay Gap Creates Chasm in American Dream for Women1
Women in the U.S. are paid just 82¢ for every dollar paid to men. And that gap is even greater for women of color. That 18¢ gap might not sound like a lot, but yearly it creates a $10,157 pay chasm that dramatically impacts a woman’s quality of life.
Median Annual Full-Time Pay
Women $47,299 Men $57,456 Yearly Gap $10,157
What the 18¢ Pay Gap Means for Women
Housing 8 months of mortgage payments2
Transportation 18 months of car payments3
Healthcare 88% of yearly healthcare costs4
Food 92% of yearly food costs for family of 45
Childcare 100% of yearly childcare costs6
Education $329,499 missed college savings7
Retirement $1,211,918 missed savings8
The Wage Gap Widens for Women of Color9
Black: 37¢
Native American: 40¢
Latina: 45¢
Asian American/Pacific Islander: 48¢
What’s the Message We’re Sending About a Woman’s Worth?
Learn what UKG is doing to help close the wage gap.
Visit ukg.com/CloseTheGap
1 Income and Poverty in the United States: 2019, (September 15, 2020), Report Number P60-270, United States Census Bureau, found at https://www.census.gov/library/publications/2020/demo/p60-270.html.
2 AJ Dellinger, What is the Average Monthly Mortgage Payment?, Bankrate, (May 25, 2021), found at https://www.bankrate.com/mortgages/average-monthly-mortgage-payment/#:~:text=The%20average%20monthly %20mortgage%20payment%20for%20a%20homeowner%20in%20the,
Census%20Bureau's%20American%20 Housing%20Survey. Calculations based on $1,275 average monthly payment on 30-year mortgage.
3 Stefan Lembo Stolba, U.S. Auto Debt Grows to Record High Despite Pandemic, Experian, (April 12, 2021), found at https://www.experian.com/blogs/ask-experian/research/auto-loan-debt-study/. Calculation based on $563 average per month payment.
4 National Health Expenditure Data, Centers for Medicare & Medicaid Services, (accessed September 8, 2021), found at https://www.cms.gov/Research-Statistics-Data-and-Systems/Statistics-Trends-and-Reports/ NationalHealthExpendData/NationalHealthAccountsHistorical. Based on $11,582 average yearly cost per person.
5 Official USDA Food Plans: Cost of Food at Home at Three Levels, U.S. Average, June 2021, U.S. Department of Agriculture, (accessed September 8, 2021), found at https://fns-prod.azureedge.net/sites/default/files/media/file/ CostofFoodJun2021LowModLib.pdf. Estimate based on low-cost plan.
6 Megan Leonhardt, Closing the Gap: Parents Spend An Average of $8,355 Per Child to Secure Year-Round Child Care, CNBC Make It, (May 19, 2021), found at https://www.cnbc.com/2021/05/19/what-parents-spend-annually-onchild-care-costs-in-2021.html#:~:text=Parents%20spend%20an%20average%20of%20%248%2C355%20per,
secure%20year%2Dround%20child%20care&text=Families%20across%20the%20U.S.%20spend,
opportunities %20and%20impact%20household%20budgets.
7 Maurie Backman, Most Parents Are Saving for College This Way — and They’re Doing It Wrong, The Motley Fool, (March 2, 2018), found at https://www.fool.com/retirement/2018/03/02/most-parents-are-saving-for-college-thisway-and-t.aspx. Calculation based on $846.41 per month savings over 18 years at 6% APR.
8 Retirement Topics — 401(k) and Profit-Sharing Plan Contribution Limits, IRS, (accessed September 8, 2021), found at https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-401k-and-profitsharing-plan-contribution-limits. Calculation based on $846.41 per month savings over 35 years at 6% APR. Max 401(k) annual contribution limit $19,500 in 2021.
9 America’s Women and the Wage Gap, National Partnership for Women & Families, (March 2021), found at www.nationalpartnership.org/our-work/resources/economic-justice/fair-pay/americas-women-and-the-wage-gap.pdf.