Despite the economic and professional gains made by women over the last 50 years, gender gaps persist — and not just in rate of pay.

Retirement readiness and financial know-how are key areas with notable gaps, according to two studies recently released by the TIAA Institute. For example, among workers in TIAA’s system, men contributed a median $8,271 to their workplace retirement plan in 2020, compared with $5,994 for women. While that 27% gap is less than the 34% difference in 2012, it remains significant.

“There are still considerable gaps in retirement readiness between men and women, but there has been noticeable progress over the last 50 years due largely to advances women have made in the workforce,” said Anne Ollen, who oversees the TIAA Institute’s programs and operations.

The research comes 50 years after Title IX of the Education Amendments of 1972 required gender equity in education programs or activities that received federal financial assistance. While the law is often associated with advances in women’s sports, it also contributed to more females going to college and into areas of study that they previously may have been unable to access due to discriminatory practices.

For instance, in 1972, just 9.4% of law school students were women, according to the American Bar Association. Today, 56% of all first-year law school students are women. In medical schools, roughly half of students are female, compared with under 10% in 1972, according to the Association of American Medical Colleges.

Pay gap today means less money for women tomorrow
Nevertheless, a pay gap has persisted: In 1973, full-time working women earned a median 56.6 cents for every dollar their male counterparts earned, according to the Census Bureau. Now, it’s about 82 cents for each $1 earned by men.

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