|By PR Newswire||
|August 13, 2014 09:01 AM EDT||
SAN LEANDRO, California, August 13, 2014 /PRNewswire/ --
July report reveals salary differences in the United States
TriNet (NYSE: TNET), a leading cloud-based provider of HR services, today announced the findings of its July 2014 issue of TriNet SMBeat, a monthly analysis of small to medium-sized business (SMB) employment and human capital economic indicators. July's SMBeat features an analysis of specific gender trends in salaries and workforce composition across different industries in the United States. Among other findings, the report highlights that during the first quarter of 2014, women on average earned 83 cents for every dollar a man earned.
Over the past century, the United States has enacted legislation requiring workers to be paid equal amounts for equal work, regardless of gender and race. And just this year, President Obama signed a Presidential Memorandum instructing the Secretary of Labor to establish new regulations requiring federal contractors to disclose compensation data by race and sex to the Department of Labor. It is expected this data will enable the Department of Labor to encourage compliance with equal pay laws and target enforcement more effectively. Despite these efforts, there is still a significant earnings gap between men and women in the United States.
Below are key findings of the July 2014 TriNet SMBeat Report. The data is sourced from TriNet's over 9,000 clients and more than 258,000 worksite employees in the U.S and the Bureau of Labor Statistics:
- On average, the annual salary in 2014 for workers across all industries in the United States was found to be $45,084 for men and $37,232 for women, amounting to an 83% salary gap.
- When looking at the variation across executive level employees, the median base salary gap was 85%. Men in these positions made median base salaries of $175,000 while women make $148,980. Though, men held 85% of these executive jobs.
- For the financial services industry specifically, men earn median base salaries of $90,964, while women earned just $50,000. However, there was a more balanced ratio of men to women in this sector, with 57% men and 43% women. The financial services sector had the largest gender salary gap for executives, with women earning 69% of men's median base salary, or $175,000 compared to $120,000.
- Breaking financial services salaries down by region, women earned 71% of what men earned in Los Angeles, $50,648 median base salary compared to $71,512 respectively. In New York and the San Francisco Bay area, the finance sector showed an even larger gap as women earned 62% of what men make.
- In the tech sector, the median salary gap was 67%. Men earned a median $105,000 and women earned $70,000 in annual base salary. The tech sector executives had the most equitable base salary across all verticals. Female tech executives earned $164,008 compared to $169,173 for men.
- By region, New York was the most equitable of the major cities considered in the report, with women representing 33% of the workforce with a salary gap of 70%.
- In the San Francisco Bay Area, women in tech earned higher median base salaries than women in the other cities, with average wages of $84,131.
In addition to the findings on the salary gap, below are the key findings on economic employment indicators across TriNet's clients in July:
- Net job growth overall moved to 2.11%, increasing from June's growth of 2.04%.
- The technology sector saw 3.52% net growth, up from last month's growth of 3.24%. The Atlanta Metro Area led the tech sector with 5.89% net job growth, surpassing Los Angeles, New York, Denver-Boulder, Silicon Valley and Boston area.
- The financial services sector has been steadily growing this year, but July's growth of 1.06% was slower than in previous months. The New York Metro Area led this vertical with 1.34% net job growth in July. The Dallas-Fort Worth and the Los Angeles Metro Areas also grew though not as strongly as New York, with 0.45% and 0.30%, respectively.
For additional details and to receive monthly SMBeat alerts, visit TriNet.com/smbeat.
TriNet is a leading provider of a comprehensive human resources solution for small to medium-sized businesses, or SMBs. We enhance business productivity by enabling our clients to outsource their human resources, or HR, function to one strategic partner and allowing them to focus on operating and growing their core businesses. Our HR solution includes services such as payroll processing, human capital consulting, employment law compliance and employee benefits, including health insurance, retirement plans and workers compensation insurance. Our services are delivered by our expert team of HR professionals and enabled by our proprietary, cloud-based technology platform, which allows our clients and their employees to efficiently conduct their HR transactions anytime and anywhere. For more information, please visit http://www.trinet.com.
TriNet, Ambitions Realized and the TriNet logo are registered trademarks of TriNet. All other trademarks, service marks, registered trademarks, or registered service marks are the property of their respective owners.
1. Fact Sheet: Expanding Opportunity for All: Ensuring Equal Pay for Women and Promoting the Women's Economic Agenda. The White House Office of the Press Secretary April 8, 2014.
2. As of June 30, 2014. Data is sourced from full-time and salaried employees of TriNet's clients, which we refer to as worksite employees.
3. The Bureau of Labor Statistics, "Economic News Release, Table 1: Median usual weekly earnings of full-time wage and salary workers by sex, quarterly averages, seasonally adjusted." July 24, 2014.
4. Data is sourced from full-time and salaried employees of TriNet's clients, which we refer to as worksite employees.
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and shared the must-have mindsets for removing complexity from the develo...
Jul. 25, 2016 01:45 AM EDT Reads: 1,198
SYS-CON Events announced today that MangoApps will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device.
Jul. 25, 2016 01:30 AM EDT Reads: 1,244
“We're a global managed hosting provider. Our core customer set is a U.S.-based customer that is looking to go global,” explained Adam Rogers, Managing Director at ANEXIA, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 25, 2016 01:00 AM EDT Reads: 1,610
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
Jul. 25, 2016 12:45 AM EDT Reads: 2,150
Basho Technologies has announced the latest release of Basho Riak TS, version 1.3. Riak TS is an enterprise-grade NoSQL database optimized for Internet of Things (IoT). The open source version enables developers to download the software for free and use it in production as well as make contributions to the code and develop applications around Riak TS. Enhancements to Riak TS make it quick, easy and cost-effective to spin up an instance to test new ideas and build IoT applications. In addition to...
Jul. 25, 2016 12:30 AM EDT Reads: 1,870
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
Jul. 25, 2016 12:15 AM EDT Reads: 2,480
"This week we're really focusing on scalability, asset preservation and how do you back up to the cloud and in the cloud with object storage, which is really a new way of attacking dealing with your file, your blocked data, where you put it and how you access it," stated Jeff Greenwald, Senior Director of Market Development at HGST, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 25, 2016 12:15 AM EDT Reads: 1,414
"We've discovered that after shows 80% if leads that people get, 80% of the conversations end up on the show floor, meaning people forget about it, people forget who they talk to, people forget that there are actual business opportunities to be had here so we try to help out and keep the conversations going," explained Jeff Mesnik, Founder and President of ContentMX, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 24, 2016 11:30 PM EDT Reads: 1,257
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
Jul. 24, 2016 11:15 PM EDT Reads: 946
"We're bringing out a new application monitoring system to the DevOps space. It manages large enterprise applications that are distributed throughout a node in many enterprises and we manage them as one collective," explained Kevin Barnes, President of eCube Systems, in this SYS-CON.tv interview at DevOps at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 24, 2016 11:00 PM EDT Reads: 1,617
“Being the one true cloud-agnostic and storage-agnostic software solution, more and more customers are coming to Commvault and saying ' What do you recommend? What's your best practice for implementing cloud?” explained Randy De Meno, Chief Technologist at Commvault, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 24, 2016 11:00 PM EDT Reads: 1,623
“delaPlex Software provides software outsourcing services. We have a hybrid model where we have onshore developers and project managers that we can place anywhere in the U.S. or in Europe,” explained Manish Sachdeva, CEO at delaPlex Software, in this SYS-CON.tv interview at @ThingsExpo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 24, 2016 11:00 PM EDT Reads: 1,496
"When you think about the data center today, there's constant evolution, The evolution of the data center and the needs of the consumer of technology change, and they change constantly," stated Matt Kalmenson, VP of Sales, Service and Cloud Providers at Veeam Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 24, 2016 11:00 PM EDT Reads: 1,259
From wearable activity trackers to fantasy e-sports, data and technology are transforming the way athletes train for the game and fans engage with their teams. In his session at @ThingsExpo, will present key data findings from leading sports organizations San Francisco 49ers, Orlando Magic NBA team. By utilizing data analytics these sports orgs have recognized new revenue streams, doubled its fan base and streamlined costs at its stadiums. John Paul is the CEO and Founder of VenueNext. Prior ...
Jul. 24, 2016 10:45 PM EDT Reads: 1,979
IoT is rapidly changing the way enterprises are using data to improve business decision-making. In order to derive business value, organizations must unlock insights from the data gathered and then act on these. In their session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, and Peter Shashkin, Head of Development Department at EastBanc Technologies, discussed how one organization leveraged IoT, cloud technology and data analysis to improve customer experiences and effi...
Jul. 24, 2016 10:00 PM EDT Reads: 1,954