NYIT Offers Scholarship to Help Close Gender Wage Gap
Equal pay for women and men has been a rallying cry, a source of frustration, and a point of contention. The New York Institute of Technology (NYIT) School of Management recently announced that it is offering a Gender Wage Gap Scholarship designed to cut the cost of tuition by 21%.
Jess Boronico, dean of the NYIT School of Management tells GoodCall®, “The School of Management advocates for, and acts in support of, the principle of equality, regardless of gender, race, ethnicity, country of origin, or other characteristics. By way of the Gender Wage Gap Scholarship, as well as other School of Management activities, we evidence our commitment to this principle as a core element of our beliefs and values, and our identity as a global institution.”
NYIT’s move comes at a good time for the issue because not all the news about women in the workplace has been positive. Some question whether pay transparency will help or hurt gender wage inequalities, while others lament the fact that the boss may play a role in determining when some women start a family.
Boronico says the gender wage gap scholarship is open to all first-year applicants. However, he explains, “They must submit a media clip/video demonstrating how they agree that gender inequality has no business in the workplace.” Applicants can choose from a variety of methods (sing, improv, rap, debate) to get their message across. The video should be 2 minutes or less, and it must be uploaded to Facebook, Twitter, or Instagram with the hashtag #WageAgainstTheGap.
Additional requirements: Students must be seniors in high school or high school graduates. Also, they must complete the FAFSA and apply to NYIT as a full-time student in the following disciplines: accounting, business administration, finance, hospitality management, human resources, international business, management, marketing, or small business and entrepreneurial studies. Note: students don’t have to be admitted at the time they apply for the scholarship.
Julie Anderson, a senior research associate at the Institute for Women’s Policy Research, believes the scholarship is a great way to support women, while also raising awareness. “We hear about retail stores or restaurants offering one-day ‘pay gap’ sales or specials, which have raised awareness of the gap,” Anderson says. “However, 21% off of an education could make more of an impact than 21% off a glass of wine.”
Closing the gender wage gap
Why is it important to attain wage parity? “Obviously, it is an inequity that has long-term economic implications as it concerns social security, retirement benefits, pension income, and a growing disparity that increases over time,” Boronico explains. “Moreover, it affects family welfare in those cases where families are dependent upon women’s earnings – and broader implications link to underrepresentation of women in leadership positions.”
To some, it might appear that progress is being made. However, Anderson says, “The fact that the wage gap still exists is reason enough to continue working on how to address it.” And she notes that progress has stalled within the last decade.
According to recent report by Accenture, “Getting to Equal 2017: Closing the Gender Pay Gap,” on average, for every $140 that a man earns, a woman earns $100. However, Accenture notes that on a global level, women are less likely than men to have a paying job (for example, women provide the bulk of housekeeping and childcare duties), creating a hidden pay gap. Factoring in this data, the report states that women typically earn $100 for every $258 that a man earns. If this is the case, closing the gap appears to be impossible.
However, Accenture outlines 3 pay gap equalizers:
Digital fluency: using digital technologies to connect, learn and work. However, undergraduate women lag behind men in this area:
|Undergrad men||Undergrad women|
|Take coding/computer course||83%||68%|
|Adopt new technology quickly||63%||45%|
|Continuously learn new digital skills||53%||44%|
Career strategy: making informed decisions and proactive career management. Again, undergraduate women lag behind:
|Undergrad men||Undergrad women|
|Have a mentor||58%||45%|
|Aspire to be in a leadership position||51%||41%|
|Choose area of study that offers high earning potential||40%||27%|
Tech immersion: working for a digital/IT company, building or launching an app or website, or starting an online business.
- Women who earn a STEM-related degree have a 19% greater chance of working in a high-paying industry in a developed market.
- 37% of women who reached senior management positions studied STEM and were able to use their digital skills to advance in the workplace.
But companies also need to provide supportive environments for women. A recent survey by InHerSight reveals what women want in companies: in addition to good salaries and equal opportunities, they also want maternity and adoptive leave.
Anderson concludes, “Ensuring that women have access to good jobs, child care, and paid leave would go a long way toward closing the wage gap for women overall.”