Gender Pay Gap Hits Hardest In USA
It is no surprise anymore when you hear that Mr. XYZ makes more than Mrs. ABC even though they do the exact same job, the gender pay gap in our country is not a secret yet we can't seem to close it. It's quite possible that one of the most blatant, "in your face" gender pay gap examples just happened. 23 amazingly talented women just out performed their male counterparts and by, "outperformed" I mean destroyed, but they were paid significantly less. What these women accomplished won't be accomplished by their male counterparts for at least two year but more likely it will be 6-10 years, if ever. In fact these 23 women even generated significantly more money for one of the company that profits the most from their work and talent. Let me explain...
The US Women's Soccer team just won the World Cup, again. The US Men's team has never won this event. Beyond that, the final match between the US and Japan for the Women's World Cup set a US record with more than 23 million television viewers on FOX. The US men's last game in the 2014 World Cup was seen by only 18.2 million television viewers on ABC. The prize money for this years Women's World Cup Champions is $2 million, the prize money for 2014's men's champions was $35 million. This means the women's final had a higher TV rating in the US then the men's final but the women made about 5.7% of what the men did.
You see major sports are driven by the revenue from television contracts. For example, Turner Broadcasting pays the NBA, National Basketball Association, $2.6 billion per year for the rights to broadcast NBA games. The league then gives a percentage of that money to each team and the teams in turn pay their players with that money. Turner pays this fee because they can sell commercials during the games and make a profit. The WNBA, Women's Basketball Association, gets paid $12 million per year for the rights to broadcast their games. These numbers are based on television ratings, advertisers pay more money when more people are watching. So, in theory, the higher the TV audience, the more money the players will make.
This is why the gender pay gap in World Cup Soccer is so absurd... The women's final match had about 24% more viewers than the men's final match yet the women only made about 6% of what their male counterparts did. What can be done, when will we finally say, "enough is enough!"?