The gender pay gap in tech could be closed by 2044 if women can successfully apply digital fluency, career strategy and full tech immersion to their profession, according to a new report from Accenture.
In addition to support from business, government and academia, women can close the gender pay gap in the next 30 years by using technology to connect, learn and work; helping other women aim high, make informed choices, and manage their careers proactively; and acquiring greater technology and stronger digital skills to advance as quickly as men, according to Accenture. For the report, the consulting firm surveyed more than 28,000 women and men in 29 countries.
- By applying the career accelerators, Accenture said women could reduce the pay gap by 35% by 2030, increasing women’s income approximately $3.9 trillion. Today, woman earn an average $100 for every $140 a man earns, according to Accenture’s research.
Though the report offers a clear plan on how to close the gender pay gap, 2044 is a long way off. As the report points out, women graduating from university in developed markets in 2020 could be the first to close the gender pay gap in their professional careers. Given the efforts and money big tech companies are pouring into gender equality efforts today, it seems just getting to a place where men and women are paid the same for the same job should happen much sooner.
There are a number of factors working against women from as early as the university level, limiting their earning potential upon graduation, according to the report. Female undergraduates are less likely to choose an area of study with a high earning potential, have a mentor or aspire to a leadership position, according to the report.
The need for more mentors and role models continually emerges in tech gender gap surveys. A similar survey released Monday found a lack of mentors and a shortage of role models were the top challenges preventing more women from entering the IT workforce. Businesses that want to help contribute to ending the gender pay gap in tech might want to consider how they can help develop tech mentors and role models.
Experts say getting more women and minorities interested and involved in tech careers could go far in helping solve the current tech talent gap, but there are certainly barriers that must be overcome first.