The workplace is still fundamentally a man's world. Women in executive, managerial and administrative jobs earn only 69.2 cents for every dollar earned by their male counterparts, which is significantly lower than the 75 cents for women generally. The gap widens for jobs that pay above-average salaries. As a group, women lack access to the most lucrative jobs in corporations where salaries are very generous and bonuses are significant. The situation is not likely to change soon, as the people who are in a position of authority promote after their own image, leaving the top ranks of the business world dominated by men.
Wage disparities occur for economic reasons as well.
The wage difference between college graduates and less educated individuals has been increasing steadily. Often in a course in economics we speak of investment in capital. As individuals and as a society we can also invest in people through education, worker training and the skills that we gain during our lives. Human capital refers to the education and skills that we accumulate over our lifetimes. Although simplified, let us take a graphical look at the wage gap between workers with a college education and those without one.