A new study by Payscale and Redfin found that tech companies with more women in leadership tend to pay their female staffers more equitably than businesses led by men.
The analysis compared salaries between men and women at similar levels and with similar years of experience. Then measured median salary for men and women regardless of job level or experience. Redfin picked 31 of the largest U.S. tech companies to include in its study, and designated companies with executive teams that were 25% or more women to have a “high rate” and fewer than 20% a “low rate.” PayScale studied 6,562 salary profiles of people who worked for those companies between June 2015 and 2017.
“The pay gap difference is a whopping 14¢ when you look at all men and women without controlling for whether they are in similar roles and levels. This suggests that companies with a high percentage of women execs also have more women in other highly paid roles.”
The report also reveals that both men and women had higher levels of job satisfaction at companies with more women in charge, and fewer said they’d considering leaving in the next six months. That could cost a company between $20,000 and $30,000 to recruit and train a new employee making around $40,000 per year.
Given that another study found that both men and women score similarly in their ability to drive business (but fewer women are rising beyond lower management), this only strengthens the business case to get more women in leadership.