By Brian Stoffel | Motley Fool | March 2, 2015
Women are being helped to earn more. That widens the gender savings gap. -Male Matters
By the end of 2014, the median female worker was earning $37,596, while her male counterpart was pulling in $45,500. But there’s a crazy irony here as well: Most working women have more in savings than men.
That’s because women participate in workplace savings programs at higher rates than men and save more of their salaries than men. For instance, 79% of women earning between $50,000 and $75,000 per year participate in such programs — versus 60% for men — and sock away an average of 7.2% of their salary — versus 6.7% for men. The same general pattern holds true across all income levels, according to Vanguard.
In fact, for all income levels except those over $100,000 per year, the median female has more saved than the median male. That’s an impressive feat to say the least.