SALT LAKE CITY — While it's Women's History Month, a new report claims Utah women may not have a lot to celebrate when it comes to pay equity.
According to Forbes Advisor's recent Gender Pay Gap Statistics, the state ranks third for the largest gender pay gap in the country. The report shows the median annual earnings of men in Utah in 2024 as $61,269, while women earn $44,707, for a difference of $16,562.
Overall, it translates to a lifetime of severely reduced earnings.
Key findings from the report include the following:
- Women contribute 30 percent less than men to their retirement accounts because of their lower salaries
- On average, women receive 20 percent less than men in Social Security
- A 20-year-old woman starting full-time work can expect to earn $407,760 less over a 40-year career compared to a man in the same position
Wyoming has the largest gender pay gap in the nation, followed by New Hampshire.
Native American women lose over $1.1 million over a 40 year career because of the gender pay gap; on average, women will lose upwards of $400,000, creating more financial insecurity in retirement.
