Does it cost more to be a woman than a man?
In many cases, the differences between men and women are not subtle.
By stereotype: men like cars, women like shoes. Men like to eat, women like to cook. Men like Tim Allen, women like Mario Cantone.
Yet where money is concerned, the distinction between the two sexes hasn’t always been so clear.
A new study, though, appears to have things cornered. Based on the latest issue of Consumer Reports, it costs significantly more to be a woman than a man.
Of course, you’re wondering how they arrived at such a conclusion. To get there, the magazine analyzed two tiers of consumerism between men and women.
At the outset, Consumer Reports compared six products that have a his-and-hers version: shaving cream, antiperspirant, pain reliever, eye cream, body wash and razors.
The results? Based on retail prices, products tailored specifically for women cost more than 50% extra.
Minor stuff, yes, but still telling.
And now the meat of the study – it looks as if women get shafted on more serious things than just L’Oreal and Degree.
Based on a 2006 U.S. survey, women are 32% more likely than men of similar income to carry subprime mortgages. According to MSN.com, when the average American prime mortgage rate was 5.87%, rates women took on often topped 7.66%.
“On a $100,000 loan, that’s nearly $120 a month more – about $43,000 more over 30 years,” MSN’s MP Dunleavey writes.
To make matters worse, women appear to be compensated at work at a fraction of their male counterparts. MSN.com cites Stanford research that suggests if a man makes $100,000/year at one job, a woman – with the equal level of experience – receives only about $78,000 for that same gig.
Startling info, indeed. But as these are bold claims, despite their sound backing, are they true?
Do you see these trends replicated in Canada? Is it more expensive to be a woman than a man?
By Jason Buckland, MSN Money
Posted by: Sean | Jan 6, 2022 10:49:01 AM
I cannot comment on the mortgage and other big, non retail, issues. But as person who has worked in the retail/consumer sector for 24 years, I can share some observations and opinions as to why this happens. For clothing and shoes, there are several explanations. 1st of all when it comes to manufacturing, the shorter the production run on an item, the more it will cost. For a pair of shoes, lets say basic black, a man will buymaybe 2 different pairs in a model that may be in production for 10 years, a woman will buy several pairs with different heel height, accents, finish and this on a model that may be in production for 6 months (can't wear last years model) and the same goes for tops, pants and outerwear. Secondly, it takes 3 times the sales staff for a womans clothing store/department than a man for the following reasons, when a woman goes shopping with or without the intention of purchasing will take 10-15 items into a changing room, try them on and then dump them onto a counter for an attendant to rehang/fold/or staiten out the item versus a men's store/department where the man will go in with the general purpose of bying something specific, they will go in the dressing room with 2-3 items, try them on and whatever does not fit will refold or rehang and then put them in their place. The 3rd reason why items are more expensive for a woman than a man is vanity, a woman wants to hold on to their youth or seem very stylish and are willing at all costs to attain this because the "in" label is very important ebven if the item is butt ugly or uncomfortable.
Posted by: Betty-Jean Blyth | Jan 6, 2022 11:00:59 AM
Where is the man who refolds and rehangs things in a store? Does he do this at home? I am 78 years old, have experience with many many men over the years and never found one, no matter how considerate otherwise who would do this unless looking to earn brownie points for some ulterior motive and I love men, my family consists almost entirely of them
Posted by: whatever | Jan 6, 2022 11:23:41 AM
It's not just personal items, mortgages, and income etc. where women get shafted. We also get shafted at the dry cleaners and the hair salon. granted, women usually have longer hair which takes a bit more effort to dry and style, but even if you just want a trim and blow dry, it would cost a woman more than a man for this, even if the man had long hair. and a woman's shirt costs more than a man's shirt to dry clean.
Woman seem to get screwed every which way - we have to work full time to bring home the bacon, at much less income than a man for the same job, but we also are expected to cook it too. On top of cleaning, laundry, looking after kids and their schedules, the list goes on and on. And somewhere down the list is trying to balance time with spouse/partner. No wonder women are fed up and burnt out.
Studies like this prove what every woman has known for years.
Posted by: Ryan | Jan 6, 2022 5:43:12 PM
In response to Betty-Jean, I usually fold my clothes and put them back on the shelf, and I usually shop alone, hence no brownie points being earned here. For the most part, I find most mens clothing stores to be quite tidy compared to the womens stores. I think Sean's comments above probably illustrate quite well what's going on in the retail industry.
Also, I often wonder about these studies. I'm never too sure they take into account ALL the factors. Like, what time of the year the mortgages were set up, rates do fluctuate throughout the year. As for the difference in pay. I could be wrong on this, but don't female employees cost more to have? For instance, women often end up taking a bunch of time off for pregnancy, the company needs to get money to hire a replacement from somewhere. Also, I would guess that woman end up taking more sick days throughout the year. This may not account for all of it, but the companies need to find the money to compensate for this lost time. Has anyone ever asked these companies how they justify the pay rates? After all, they kind of have to, otherwise they would be in legal trouble 24/7 just because of these kinds of discrepancies.
Personally, I would like to see more data on this. Just a few stats don't really prove anything. Not to mention, I've taken many many official surveys in my life and they're usually quite flawed, in the sense that my true answers are rarely available in the 4 multiple choice options you're given so you have to pick one that isn't actually true, therefore the survey is void, but the person collecting the data will never know. Remember the surveys you took on drug abuse in high school. After taking those it made every grown up you've ever known look like an alcoholic just because they have 3 drinks in a week. Of course, those surveys don't account for blood alcohol level.
Posted by: Caron | Jan 6, 2022 6:02:33 PM
The studies that I have read about employee time off indicate that when men get sick it is usually more serious, and for longer than women employees.
And, please, women do not take a "bunch of time off". I had two children. Most women nowadays have two children. I received maternity pay for one child, for 27 weeks.
It is very difficult to prove that people are not paid their worth - so highly unlikely that the companies would be in trouble 24/7. What we can do is look at statistics on wages, and they consistently show that women are paid less. No, there are no perfect surveys, but we can surmise that trends can be observed through them.
Posted by: debra | Jan 6, 2022 6:29:38 PM
I was very offended by the comments of Ryan. I have worked for thrity years inthe corporate world, never had children,and oversee several males. Women do not talke more time off than men,and women are more honest about their reasons. When I confronted one of my male employees about his 'dental appointments', he beccame verbally abusive and rebellious. Women tend to take time off for more legitimate reasons-they are the care givers who, in the majority of cases have to stay home with children who are sick. I do not cost my company more then a male, and I do make less. To add insult to injury, I have to fight harder, and be more persuasive in order to get raises or the perks that companies hand over to the males, as a matter of course. The glass ceiling is alive and doing well, and men like you Ryan camke it clear that it is not going to change any time soon.
Posted by: 121force | Jan 6, 2022 7:17:38 PM
I am the man who refolds and rehangs. I appreciate somebody noticing.
Posted by: alan | Jan 6, 2022 7:18:09 PM
sean, I agree with alot of what you say(not all)
BETTY,yes alot of men are considerate of the peaple working.I myselff have picked clothing off the floor left there by women shoppers
the pay thing i agree with.My wife works very hard for her money and a mail would for sure get more money.(BUT WHEN COURTING WHO IS EXPECTED TO BUY THE BLING)
Posted by: Nick | Jan 8, 2022 3:08:55 AM
@Debra et al maligned women on this thread: Sperm is cheap. Men compete better at work because we HAVE to. This article mostly discusses the costs of keeping up appearances because that is more valuable to women than men. Simply put, we've evolved to judge women by their looks, and men by their wealth. In the course of a lifetime, less than half of 1% of women will remain childless. Nearly 40% of men will do the same. To all sexual beings, there is a fate worse than death and that is to not pass on your genes. Men have more to lose because biologically, we are less important. Until that changes (never) we will compete harder and receive more pay for it. Not because women do a worse job - they just don't take as many risks on average; those combined risks create a confidence in the workplace that pays off for men. That risk taking is also why men have a higher mortality rate than women, so you may not get paid as much but you never work yourself to death.
Posted by: Emily | Jan 8, 2022 8:50:55 AM
Of course it costs more to be a woman than a man! When you consider the money that women spend in the run of a month on birth control and feminine hygine products alone- we are put at a financial disadvantage, especially when one considers the accumilated cost of these 2 products alone over the long-run.