Women Still Earn Less than Men

Dear Colleagues,

As State Comptrollers and Treasurers, it’s our responsibility to ensure contracts are paid, audits are performed, and pensions are managed responsibly, but also to ascertain how certain populations in our states are faring economically.

In honor of Women’s History Month this past March, the New York Office of the State Comptroller issued a report examining how women’s salaries compare to their male counterparts.  The report “Economic and Policy Insights – Women and Persistent Pay Gaps in New York,” shows there is still a long way to go for gender pay parity.

Our report found in New York State women earned 87 cents on the dollar compared to men in 2023 (latest data available). Women would have to work an additional 53 days into 2024 to make what New York men made at the close of 2023. Median earnings for women working full-time, year-round were $62,111 compared to $71,168 for men. Women’s median earnings as a share of men’s earnings in New York declined from 2021 and remained lower than in 2015.

This pay disparity exists not only in New York but across the nation – and is worse in most other states. The national average of women’s earnings as a share of men’s earnings was 81 cents on the dollar according to the 2023 U.S. Census Bureau’s American Community Survey data. In that year, New York had the 4^th lowest gender pay gap among the states, Washington D.C. and Puerto Rico.

Many factors contribute to earnings differences between men and women, including education, industry or occupation, years of experience and number of hours worked.

Young women now receive more than half of all bachelor’s degrees and post-college professional degrees in the U.S., but they continue to make considerably less than men with the same level of educational achievement. In 2023, median earnings for New York women with a bachelor’s, graduate or professional degree were 78 cents on the dollar to what men earned.

The wage gap also exists when men and women are employed in the same field. Median earnings for male managers were $107, 451 compared to $92,952 for women. That’s a $14,499 difference; a significant dollar amount for the same work in the same field.

New York’s wage gap is highest in the legal field, which has the highest median earnings. In 2023, women had median earnings of $113,699 compared to $166,678 for men, or 68 cents on the dollar.

Family caretaking can also contribute to the gender pay gap by reducing female labor force participation and leading to divergent occupational choices. In 2024, 58 percent of women in the U.S. participated in the labor force compared to 68 percent of men.

After many years of progress, gender equity in the labor market has stalled. National policies that improve access to affordable childcare and paid leave could restore progress in female labor force participation. Also, finding new ways to encourage pay transparency and equality of opportunity could help narrow the pay gender gap. A level economic playing field can create a better economic climate in all states.

Yours in Service,

Thomas P. DiNapoli
New York State Comptroller