Women are outpacing men in education and have been for two decades. They outnumber men on college campuses. They earn more undergraduate degrees. They earn more master’s degrees. They earn more doctoral degrees. For every 100 men who graduate with a college degree this year, 140 women will do the same.
Yet women still make less money and advance in the workplace less often. They are more likely to leave their jobs, especially after having kids. As they age, they face an increased risk of poverty and economic instability.
A new Pew study shows that millennial women (for the purposes of the study, women ages 18 to 32) now make almost as much money as their male peers — a victory insofar as the pay gap is narrower than ever before but disturbing when you consider that even higher educational attainment is not resulting in parity. Women have earned nearly 10 million more college degrees than men over the past two decades, but their average wages remain lower. The shrinking pay gap, too, is not just because women are making more money than they were two decades ago (although they are); it is also because men — and in particular, millennial men — are making less.