Women working in smaller, medium-sized and smaller businesses will only earn about 33 percent of what their male colleagues did in 2021, according to survey data from LinkedIn.
Compared to the overall median for all full-time employees, this means women in smaller businesses will get the smallest pay increases of any demographic group during the next 12 years.
The median increase for women as a whole is expected to be between 10 and 13 percent over the next 12 years. The median percentage increase for men is expected to be between 8 and 13 percent, however.
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The survey was carried out by LinkedIn from April 4 to April 11, 2018. In that time period, the surveyed 1,932 employees and evaluated the wages of 5,497 employees in 7,610 firms with 20 to 499 employees in the US.
The survey showed that women experienced slower wage growth across the workforce, however. Women working in small businesses did not receive any wage increases in the last year, compared to women in larger businesses where wage increases averaged a nine percent increase.
Women’s wages took a hit over the past five years, with those working in medium-sized businesses averaging a three percent wage increase during that time period, while those working in small businesses saw an average four percent wage increase.
“We’re committed to finding solutions to advance women’s economic opportunity at every stage of their careers,” Julia Harters, Global Diversity and Inclusion Lead at LinkedIn, said in a statement. “Our own analysis has revealed that most companies don’t target age, gender, race, or role as employees on their staff. The only real approach to solving this multifaceted and growing issue is to reduce race and gender bias, and to step back and apply macro-level thinking to the entire workplace.”
About 6 million Americans are working in some degree of the so-called gig economy, according to the Bureau of Labor Statistics.