Question

What can be done to increase women's pay to be equal to her Male counterpart?

Answer 1

This is the case of reducing gender gap. There are two ways of implementing of such.

No.1) Transparency: This is the way of letting everyone know who is doing what and getting what. When a woman knows that her male counterpart is performing and earning more than her, it makes a challenge to her doing the same way. This is the process of self-correction.

No.2) Negotiation: Statistics says, males are better in negotiation than woman. Therefore, males are able to manage better pay through negotiation with firms’ management. If negotiation is eliminated completely (by enforcing strictness), there would be no scope of bargaining and the payment would be equal for both male and female.