Study after study has identified a persistent gender pay gap. A PayScale report found that women still make only $0.79 for each dollar men make in 2019. The Bureau of Labor Statistics reported that, in 2013, female full-time workers had median weekly earnings of $706, compared to men's median weekly earnings of $860. Women aged 35 years and older earned 74% to 80% of the earnings of their male counterparts. The Bureau's analysis discovered that in 2018, median weekly earnings for female full-time wage and salary workers was 81% of men’s earnings. "Women had lower median weekly earnings than men in most of the occupations for which we have earnings data for both women and men," the BLS report found. The data is starker for minorities. The PayScale report found that the largest pay gap is for black female executives who earn only $0.63 for every dollar a white male executive earns.
But the chasm is even bigger than those numbers alone indicate. Existing studies don't reflect the true magnitude of the gender wage gap because they ignore important types of compensation. For example, the BLS report cited earlier ignores bonuses. Furthermore, most analyses I've seen don't take into account employer retirement contributions ("matches") or future Social Security benefits.
This project is inspired by women who throughout history have defiled all odds to be great; some notable great females scientists: Mileva Maric', Frances "Poppy" Northcut, Hedy Lamarr, Marie Sklodowska Curie and Ada Lovelace.
This analysis will be done with a dataset titled: "Earnings of females and males employees"; spans from 2004 to 2017. The project will be carried out using the following procedure:
- Data Preprocessing
- Exploratory Data Analysis
- Feature Engineering
- Model Building
- Model Evaluation
- Model Deployment
- Project Documentation (Article)
- Project Slides