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72 | TH E M R EP O RT O R I G I NAT I O N S E R V I C I N G DATA G O V E R N M E N T S E C O N DA R Y M A R K E T THE LATEST DATA Wage Inequality Remains an Issue Parity is closest at tech companies employing C-level females, but the pay problem persists. A ccording to a new analysis by real estate database Red- fin and PayScale, a company that gathers data on individual salary profiles, the gender pay gap is half the size at technology companies with more women executives. To determine these findings, Redfin examined the gender makeup of executive teams at 31 of the largest U.S. technology com- panies. PayScale then analyzed 6,562 salary profiles of people who reported working for these com- panies between June 2015 and 2017. Based on this conducted research, it was discovered that companies with more women executives have a two-cent pay gap. So for every dollar men earn, women earn 98 cents. While a mere two pennies might not sound like much, it adds up. In fact, the study noted that this inequality adds up to tens of thousands of dollars over a woman's career. While the gap has only nar- rowed, it is notable that at least the issue is gaining attention. In 2015, Redfin decided to start publishing its pay gap and other diversity statistics as a way to encourage other companies to be transparent with its information, as well as hold itself accountable. "Increased transparency is one way we can work together to close the pay gap in our industry," said Bridget Frey, Redfin CTO. Millennial Money Habits Vary Greatly The Mars-and-Venus phenomenon is at play in the millennial market, with men and women exhibiting distinct differences in buying habits, credit scores, and more. A ccording to a recent report by LendingTree, men and women born from 1980 to 1995 are quite different when it comes to debt, credit score, income, and more. One of the more generally known topics is that males make more than their female counter- parts. The study reported the average income for the millennial man was $53,220, but the aver- age woman was slightly lower at $46,990—a 13.5 percent difference. Though millennials are known to prefer renting to buying, of those who have purchased homes, men also had a higher percentage. Women were found to be twice as likely as men to live with friends or family rent free, with only 44 percent owning homes. Over half of men—56 percent—are homeowners. Interestingly enough, though women have a higher average debt amount, they take the lead when it comes to credit score. The average total debt for women is $68,834 with $14,758 of that coming from student loan debt. Men had an average total debt of $53,017 with $8,500 coming from student debt. Men are also more confident about their ability to pay off their debt— likely because they make more and have less. On a scale of one to five, with five being the most confident, the average for men was 3.67 while women sat at 3.31. Similarly, men rate their financial satisfaction at a 3.54, while women rate theirs at 2.99. Compared to only 30 percent of men, 36 percent of women have a credit score of 700 or higher, though at least 18 percent of both groups admit they don't know their credit score. Despite the dif- ference in pay, the top priority for men in their finances was increas- ing their income, while women place priority on putting more into savings. However, the second choice for both groups was the No. 1 choice for the opposite. Despite the difference in pay, the top priority for men in their finances was increasing their income, while women place priority on putting more into savings. While a mere two pennies might not sound like much, it adds up. In fact, the study noted that this inequality adds up to tens of thousands of dollars over a woman's career.