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  • Do older women earn more with higher education?
  • Posted By:
  • Willy R
  • Posted On:
  • 17-Jan-2014
  • Recent studies show that among women and men aged 50 or above, higher education seems to be paying off women more than men. Even among the seniors aged 75 and above, this is the current trend.

    As compared to those with lesser education, those with some sort of education beyond high school are earning more in their older years, the study shows. Under all these categories, a startling truth stands out. Women actually earn more than their counterparts. For both men and women, aging leads to a decline in the hourly wages earned in those who are educated beyond high school.

    The study named “How Education Pays Off for Older Americans” was designed to study any wage or work differences among men and women above the age of 50 with different educational attainment levels.

    According to the results published by this organization, policy changes such as full Social Security Benefits offered at increased retirement age, health improvements, enhanced educational attainment and older American income share in relation to declining asset value and other relevant factors are trends that have changed the economic security and work behaviour of aged Americans.

    For the years 2005-09, American Community Survey, the monthly household survey census conducted by the Census Bureau was analysed by the authors of the report. At least four percent of our workforce is constituted by Americans of or above the age of 65.

    As compared to men of one educational group lower, women belonging to two highest educational groups earn in a similar range. Similarly, just like what men with a bachelor’s degree earn, women with advanced degrees such as professional degrees or master’s PhD also earn similar wages.

    Men with post secondary education earn anywhere between $4 and $12 per hour while women with the same qualification earn $3 to $9 more per hour at the age of 65 and above. With aging, women with advanced degrees earn more than men of the same age.

    As compared to women with high school or less degrees, older women aged 65 and above earn at least three to five times more. This is true in comparison with those with bachelor’s degrees too.
    Considerable gender differences are revealed by largest occupations for men and older women aged 50 or above.

    While considering the largest occupations for both sexes, there is an overlap. Older men are employed in fields where the earning potential is more. In the list of 10 largest occupations pertaining to men and women, the predominant category is that of the retail salesperson.

    Judges, lawyers, surgeons and physicians are some of the high wage occupations common among men aged 75 and above. While judges and lawyers earn an average of $59.13 an hour, legislators and chief executives earn about $48 an hour.

    Surgeons and physicians enjoy the highest earning potential at $64.54 an hour. Highest paying occupation in older women of the same age group is receptionist and secretary where they can earn around $15.37 an hour.








 

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