Trends and stereotypes are prevalent in every walk of life, with a large number of these inherently detrimental or derogatory towards a specific demographic.
This is particularly true in the worlds of commerce and finance, where the gender pay gap and prevailing attitudes towards money continue to do a disservice to women.
This is despite the considerable societal shifts that we have seen in recent times, with the iGeneration set to break new ground by producing a higher number of female breadwinners than ever before.
But will this be enough to challenge the gender stereotypes that remain in 2018, or finally make the gender pay gap a thing of the past?'Let;s find out:
The Number of Career Winning is Rising, but so is the Gender Pay Gap
While the gender pay gap varies between different nations, there’s no doubt that men continue to earn considerably more than women in the western world.
In Australia, for example, this survey revealed that the gender pay gap has actually increased by 0.4% between 2004 and 2017, peaking at a hefty 15.3 last year. So, while we’re now embarked on an era in which the number of female breadwinners has superseded males for the very first time, women are still not being paid on a comparative basis with men.
The key takeaway here is that neither private or public sector firms are doing enough to challenge gender inequality in relation to pay, despite the rising number of career women and the amount of females now employed in prominent roles.
Ultimately, employers, companies public institutions are failing to respond to shifting societal trends, which have seen women empowered to pursue their career goals through flexible working directives and remote technology.
This may change over the course of the iGeneration, of course, but the gender pay gap is likely to remain disproportionately large for the foreseeable future at least.
What About Financial Stereotypes and Misconceptions?
While the women of iGeneration may not be able to overhaul the gender pay gap, however, they can challenge many of the financial stereotypes and misconceptions that remain in the modern age.
This is particularly true in the case of dating, with many people entrenched in the belief that men continue to foot the bill when couples head out on the town.
In fact, the aforementioned study from the Greater Australia Bank revealed that while men paid for dates 44% of the time, the bill was split evenly by 49% of respondents. Just 7% of women said that they would foot the bill, but the fact remains that the cost of dating is now being split more evenly between males and females.
Similarly, it has always been believed that men are less inclined to open a joint bank account than women, due to concerns about commitment or financial contributions.
This is not borne out by the figures, however, which suggest that women are less likely to feel comfortable opening such an account with a male partner. They’re also more likely to challenge the division of expenses, which may something to do with the impact of the gender pay gap we discussed previously.
The Last Word
Ultimately, the iGeneration is set to break several moulds in the field of finance, particularly in terms of gender stereotypes and the relationships between men and women.
More specifically, women are increasingly likely to emerge as the breadwinner as their household in the current generation, while they also boast a greater degree of financial independence and seek out the fair distribution of expenses with their partners.
This generation may also be the first to dramatically reduce the gender pay gap over time, laying the foundation for the adult women of tomorrow to continue this trend.