News flash! The glass ceiling is alive and well. A researcher at University of Chicago Booth School of Business studied why that is still the case.
Professor Marianne Bertrand says although women are now earning more college degrees than men, they tend to choose jobs in lower paying fields.
Higher paying fields offer less flexibility and require more time commitment. Since women disproportionately care for children and the home, those fields are less appealing. And if women do by some chance take a job that pays more than their husband’s, that often leads to marital strife and divorce.
Finally, women are psychologically more risk averse than men. Competing for higher paying jobs and negotiating higher salaries entails taking risks.
Family friendly policies help with the flexibility issue but fail to address the pay gap.
Bertrand sums it up like this: an economy that does not fully tap into the leadership skills offered by women is necessarily inefficient.
As the economy continues to boom, will the glass ceiling finally crack?