The gender wage gap is an issue that Women in Retail Leadership Circle has covered before — and the news hasn’t been all that great. Consider that in 2015, female full-time workers made only 80 cents for every dollar earned by men, according to a report from the Institute for Women’s Policy Research.
We wanted to know how women in the retail industry were being compensated vs. men. Was the gender wage gap as big of a problem in retail as it is in some other industries? So Total Retail, sister publication of the Women in Retail Leadership Circle, conducted an online survey this summer of its audience to find out. The two-week survey generated 660 responses. Respondents were asked to answer questions about their salaries, benefits (financial and others), growth potential at their current companies, and how fairly they were being compensated for their work. The survey sought to examine how a number of variables, including gender, age, education level, among others, impacted retail executives’ compensation packages.
Total Retail’s first annual Salary Benchmark Report provides retail executives an extremely valuable resource that will help them maximize their earning potential either at their current company or in the job market. Furthermore, the report will enable retail employers to have a benchmark study that they can use as a measuring stick to see how competitive their compensation packages are as they look to recruit and retain executive talent.
So back to the gender wage gap: Below you’ll find just one of many charts that are featured in the Salary Benchmark Report that deals with the issue of compensation based on gender. This chart specifically looks at how salary levels are impacted by gender.
What this chart shows is encouraging. The wage gap that is so prevalent in other industries is not a big of a factor in retail. In fact, the salary levels between the two genders are fairly equal, with the exception of $250,001 to $500,000, where 60 percent of respondents in this salary bracket are men. Consider that in the three other highest salary ranges ($100,001-$150,000; $150,001-$250,000; $500,001-$1 million), the breakdown between men and women is essentially even. This isn’t to say that more work doesn’t need to be done — women are more likely than men to be paid in the two of the three lowest salary brackets — but it’s a positive start to equality.
For more valuable data on retail executives’ compensation packages, analyzed across a wide swath of variables, download Total Retail’s Salary Benchmark Report today!