Have you ever wondered which industry has the most female millionaires? Well, a new study compiled by Compelo and WealthInsight tells us it’s the media. According to the report, one quarter of the millionaires who have earned their wealth in this sector are women. Yep, you heard right. Only one quarter, and that’s from the most favorable industry.
So, which industry is least likely to produce female millionaires? According to the study, tech and telecoms are overwhelmingly dominated by male millionaires, coming in at 92%!
Ugh, that’s staggering.
Oliver Williams, the head of WealthInsight, had this to say about the group’s fascinating and deeply informative study:
This isn’t particularly surprising, considering fields like construction and tech have long been hostile to women. What’s interesting, though, is that according to the study, almost 50% of female millionaires owe their wealth to entrepreneurship as opposed to salaried positions.
Perhaps the gender pay gap has something to do with that: The researchers found that 45% of male millionaires earned their wealth through salaried positions, as opposed to just 31% of female millionaires.
The study’s authors examined pay equity around the world, too, and the U.S. comes off looking pretty bad. When compared on a global scale, the U.S. ranks number 30 — 20 slots behind the U.K. (We’re hanging our heads. We can do better!)
So yes, we still have a long, long way to go in remedying the gender pay gap. Time to hustle, ladies and gentleman. Let’s make sure our voices are heard and let business leaders know these stats will not stand.