5 Shocking Statistics PayScale Uncovered in 2015
At PayScale, we really love data. Throughout 2015, we used data to tackle some of the most debated topics in the career world, as well as to shed some light on common misconceptions about data. PayScale’s reports cover everything from the gender pay gap to the cost and reward of higher education. And sometimes, we analyze qualitative data, like how workers feel about their jobs. For example, which jobs are the most meaningful, and more importantly, which are the most meaningless? And, do women really only make 78 cents for every dollar a man makes?
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Only 37 Percent of Millennials Have Ever Asked for a Raise.
It’s a depressing statistic but millennials, the group born between 1982-2002, are far less likely to have asked for a raise and far more likely to be uncomfortable negotiating salary, as they are worried about being perceived as pushy. Both of these things probably stem from lack of experience. In contrast, baby boomers are more likely to say they didn’t negotiate for fear of losing their job.
Male Executives Earn 32.8 Percent More Than Female Executives.
In a recent PayScale report, we broke down the gender wage gap, accounting for both controlled and uncontrolled numbers. It turns out, that the pay gap between men and women gets wider as job levels get higher. In the uncontrolled analysis, male executives earn 32.8 percent more than female executives. In the controlled analysis, male executives earned 6.1 percent more than female executives.
By 2025, the ROI of a Bachelor’s Degree at Public Colleges Will Rise by 17 Percent.
In a report in which we forecasted the 20-year net ROI of colleges, PayScale found that the financial return on investment of a college education will continue to increase in the next 10 years, but at very different rates for public vs. private schools. We forecast that by 2025, the 20-year net ROI of a bachelor’s degree at a private school will rise 4 percent while the 20-year net ROI at a public school will rise by 17 percent.
18 Percent of SEM Strategists Say Their Job Makes the World Worse.
For a PayScale report focused on job meaning, we wanted to understand how workers feel about their jobs. When asked whether they believe their work makes the world worse, an astonishing 18 percent of SEM Strategists chose yes. This is a list that has Fast Food Workers as the top job title that makes the world worse, so it’s interesting to ponder why SEM Strategists report being so unhappy.
Party Schools Have a Higher ROI than Sober Schools.
Apparently, hangovers are a thing of the past. Party schools, as defined by the Princeton Review, include schools like the University of Illinois, the University of Iowa and more. In our College ROI Report, we found that the average 20-year net ROI for party schools was slightly higher than the average of sober schools, $354,400 vs. $336,000.
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