While women still earn a fraction of a man's wage in the United States, there is one niche where women are eking out an advantage -- and please check your stereotypes at the door. It's not fashion, or child care, or as spokespeople for psychic hotlines (though I think someone should look into that...). It's the boardroom.Unbelievably, a report by Corporate Library that looked at pay data from more than 25,000 directors at 3,200+ companies found that women were paid more, on average, then men; $120,000 for women versus a median of $104,375 for men. Of course, given their much smaller numbers -- female directors are outnumbered by males, eight-to-one -- it's not exactly reason to take out our party hats, ladies.
The report doesn't theorize as to why, exactly, women are paid more. I wonder if it's due to the demand for a "product" in limited supply -- directors tend to be officers for other corporations, judges, or other highly-ranked folks. Far fewer of these are women. Hence, the women who are available to serve as directors must be paid more to lend their female presence.
Alternatively, it could be the simple fact that larger companies are more likely to desire diversity on their boards; and it is the larger companies who pay more. I wonder where newly-appointed News Corporation board member, 27-year-old Natalie Bancroft, fits on the director pay scale?
Closing Bell: Can't go up every day (BAC, HE, HPW, COMS, BRCD, WMT, AMD)
Wal-Mart grows profit and cash flow in Q3, but comps still ailing
Chasing Value: Ten stocks for 2010 -- Part 2
