While we debate pay parity all through the career span, it looks like the gap has implications that impact retirement.
A study has shown that on an average women are likely to reach retirement with just 74% of the wealth accumulated by men.
The WTW Global Gender Wealth Equity report also shows the difference across countries to be anywhere between 60% at worst to 90% at best between countries.
The study has found out that this gap between men and women widened at the senior leadership roles.
The reasons for the gap are delayed career trajectories and gender pay gap, said the reports. Other factors included financial literacy and family caregiving responsibilities outside the workplace. These influenced women’s participation in paid employment and therefore their ability to build wealth.
Among the countries, the US’ wealth gap was just above the global average at 75%, while Canada performed was better at 78%. Nigeria has the highest gender wealth gap in the study at 60%, followed by Argentina at 61% and Mexico and Turkey at 63%.
