3 Steps to Closing the Gender Pay Gap

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If you’re a young woman, we have good news: There’s a chance you’ll earn equal pay to your male peers during your working career.

That’s according to new research from Accenture, which suggests that the gender pay gap could be closed in developed markets by as early as 2044 — 36 years earlier than previous estimates of 2080.

Accenture says the gender income gap could close for the upcoming class of 2020 college graduates if women take advantage of three “powerful accelerators”:

  • Digital fluency: Incorporating and becoming efficient in using digital technologies — such as online banking and social media — are key to helping women connect, learn and work. “Women tend to lag in adopting new technology quickly,” Julie Sweet, North American CEO at Accenture, tells CNN Money
  • Career strategy: Women can boost their earning potential by choosing a degree and career path that offer high pay and advancement potential.
  • Tech immersion: Boosting women’s digital and tech skills can also help them advance. This might mean working toward a STEM-related degree or simply taking a course or two in computer science or coding, CNN Money reports.

According to Accenture:

Applying these career accelerators, combined with support from business, government and academia, could reduce the pay gap by 35 percent by 2030, boosting women’s income $3.9 trillion.

How to boost your pay sooner

If you’re looking for a way to boost your pay sooner, start with your performance review. Your review gives you an opportunity to discuss your work accomplishments during some one-on-one time with your boss.

Money Talks News writer MaryAlene LaPonsie recommends brainstorming any issues your supervisor may want to critique before the meeting. Remember to have a “response in mind in the event these criticisms become a topic of discussion during your review,” LaPonsie writes.

You can find more tips in “10 Things to Do Before Your Next Performance Review.”

For more helpful job advice, check out:

Do you think the gender pay gap might close soon? Share your thoughts below or on Facebook.

Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click links within our stories.

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