[Womeninmedicine] FW: reducing women's salary gap and downstream benefits

[Weisz, Ora Anna]

For all of you thinking of negotiating for salary….
Cheers,
Ora

_____________________________________________________________________
Ora A. Weisz, PhD | Professor of Medicine, Cell Biology, and Clinical and Translational Science
Vice Chair of Faculty Development,  Department of Medicine
Associate Dean for Faculty Development,  University of Pittsburgh School of Medicine
Assistant Vice Chancellor for Faculty Excellence, University of Pittsburgh Health Sciences
Renal-Electrolyte Division | 978.1 Scaife Hall | 3550 Terrace St. | Pittsburgh PA 15261
Tel: 412-383-8891 | Email: weisz at pitt.edu<mailto:weisz at pitt.edu>

From: Rosland, Ann-Marie <roslandam at pitt.edu>
Sent: Saturday, February 02, 2019 2:55 PM
To: Weisz, Ora Anna <weisz at pitt.edu>; Liebschutz, Jane <liebschutzjm at upmc.edu>
Subject: reducing women's salary gap and downstream benefits

Sharing an article posted to a women in medicine listerve – article was published out of Johns Hopkins. Over time with a deliberate initiative, Johns Hopkins narrowed their salary gap to 1.9%.  The article goes through a simulation exercise demonstrating the long-term financial impact of small gender-based salary differences.  Much of the additional $$ women would have at retirement comes from compounding retirement investment (so not out of pockets of the institution).

Quote from the accompanying editorial (highlight mine):

The authors focus on the financial impact of the gender equity initiatives, a multicomponent program initiated in 2005 at the Johns Hopkins University School of Medicine in Baltimore, Maryland. By 2018, the initiative had successfully narrowed the gender gap, but a small difference in salaries (1.9%) persisted. This disparity was largely driven by persistently lower salaries for women at the rank of assistant professor, while the gender gap in salary was narrower for associate and full professors. Data on salaries of 1481 faculty (432 women) in 2005 and 1885 faculty (742 women) in 2016 were analyzed using simulations to model the association of gender differences with estimated annual salary and additional accumulated wealth over the course of a 30-year career for “otherwise identical representative” men and women employed as full-time faculty members. Their analyses indicated than a typical female faculty member, compared with her equivalent male counterpart, would be worse off by more than half a million dollars in accumulated wealth and would have to spend her retirement savings at a 40% slower rate.

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <https://list.pitt.edu/pipermail/womeninmedicine/attachments/20190204/84fa0450/attachment-0001.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: Impact of Gender-based salary gap_JAMAOpen.pdf
Type: application/pdf
Size: 982542 bytes
Desc: Impact of Gender-based salary gap_JAMAOpen.pdf
URL: <https://list.pitt.edu/pipermail/womeninmedicine/attachments/20190204/84fa0450/attachment-0002.pdf>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: Editorial for Rao article on gender-based salary gap.pdf
Type: application/pdf
Size: 265961 bytes
Desc: Editorial for Rao article on gender-based salary gap.pdf
URL: <https://list.pitt.edu/pipermail/womeninmedicine/attachments/20190204/84fa0450/attachment-0003.pdf>