Good morning, Broadsheet readers! Hope Hicks is in the House hot seat, Serena Williams is the GMOAT, and we all need PhDs. Enjoy your last day of February!
[bs_bullet_primary] Back to school! Our colleague Claire Zillman writes about a new “set of rules” for working women seeking equal pay, published by Georgetown University’s Center on Education and the Workforce yesterday. Rule No. 1? Get one more degree–just one!–than a male counterpart to achieve his same earnings. Here’s Georgetown’s reasoning:
A woman with a bachelor’s degree earns $61,000 per year on average, roughly equivalent to that of a man with an associate’s degree. The same rule holds true for women with master’s degrees compared to men with bachelor’s degrees and for each successive level of educational attainment.
Why the disparity? “Part of it is self-inflicted,” Nicole Smith, the Georgetown Center’s chief economist who co-authored the report, tells Claire, pointing to women’s choice of occupation in a given field as a leading culprit. “If you really like medicine, you should be a surgeon. You don’t have to be a nurse,” Smith says. She admits that might not be the feel-good, follow-your-passion advice that everyone wants to hear, but it’s a message that needs saying. “It’s not only about money, but money matters. Guys care about money,” she says.
The other part is far more complex and includes “the discriminatory tradition of undervaluing women’s work, women’s disproportionate share of caregiving obligations, lack of child care, and women’s salary negotiating tactics as possible causes.” To go deeper, click here: [bs_link link=”http://fortune.com/2018/02/27/equal-pay-for-women-degree-education/” source=”Fortune”]
ALSO IN THE HEADLINES
[bs_bullet_primary] Money over #MeToo. We’ve written about the odd silence of Wall Street women when it comes to the #MeToo movement. While some have pointed to the confidentiality agreements signed by big banks’ employees, Vanity Fair’s Bethany McLean has a different hypothesis: it’s about money. In the words of one former banker: “For many senior women there is way too much on the table.” Culture also plays a role: “When you are rewarded for toughness there’s a big disincentive…to come forward with a story that would put a dent into your armor,” writes another Wall Street woman in an e-mail. “That over time becomes identity.” [bs_link link=”https://www.vanityfair.com/news/2018/02/inside-wall-street-complex-shameful-and-often-confidential-battle-with-metoo” source=”Vanity Fair”]
[bs_bullet_primary] Hicks stays mum. White House communications director Hope Hicks, a confidante of President Trump who was by his side during the campaign and early months of his administration, appeared before House investigators yesterday in relation to Russian meddling in the 2016 U.S. election. She reportedly did not answer questions about events and conversations since Trump took office. [bs_link link=”https://www.theguardian.com/us-news/2018/feb/27/hope-hicks-trump-russia-house-committee” source=”Guardian”]
[bs_bullet_primary] Melania moves on. Melania Trump has parted ways with Stephanie Winston Wolkoff over the news that the latter’s firm was paid nearly $26 million for event planning by a group that oversaw President Trump’s inauguration. Winston Wolkoff was simultaneously working as an unpaid senior adviser to the office of the first lady. [bs_link link=”https://www.nytimes.com/2018/02/26/us/politics/melania-trump-inauguration-adviser.html” source=”New York Times”]
[bs_bullet_primary] Double tap for the Gap. A new viral Gap Instagram ad that shows a mother nursing her …read more