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NY millennial women earning more than their male peers, study says

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NEW YORK (PIX11) -- Women are saying it’s about time. A new study shows women younger than 35 in New York have not just closed the pay gap with their male peers, they’re making more money than them.

For its March issue, Glamour Magazine partnered with the Institute for Women’s Policy Research, which found millennial females take in a $1.02 for every $1.00 earned by young men in the Empire State.

“I think it’s a milestone to see that we can close this pay gap,” said Wendy Naugle, Executive Editor of Glamour. “I think in an ideal situation we won’t have it come at the cost of men and downfalls of the recession.”

Full-time young working women in U.S. make on average 89 cents for every $1.00 earned by young men.

Naugle said women have benefited by having children later.

“On average they are having children at age 27 or 28. What that means is women get an opportunity to really build their wealth and pay during those prime earning years," said Naugle.

New York is actually the only state in which young women have caught up with their male counterparts, as far as pay is concerned. Education is a key factor.

The study shows 47% of 25 to 34-year-old women in the state have a bachelor’s or higher degree, compared to just 38 percent of men.

“As we go forward and look at the next report, that’s when the data will show us what we’re learning and what we can carry across to their states,” said Naugle.