Gender Pay Gap Starts with Kids in America

BusyKid,
the only mobile app and web platform that allows children to earn
allowance and use it to save, share, spend and invest, analyzed its
database to see how parents are paying their kids and found that even
before setting foot in the workplace boys are earning more than girls.
On average, boys earned twice as much for doing chores per week than
girls, and were awarded larger bonuses by parents.

Also according to BusyKid, it appears that boys are being given more
opportunities to earn money than girls, and they are saving more of it
for themselves. Girls shared more money with charities than boys, who
also spent larger portions of their earnings.

In 2017, the Pew Research Center reported that women earned 82% of what
men earned, based on an analysis of median hourly earnings of both full-
and part-time workers. Women would have to work an additional 47 days to
make up the difference.

“It was interesting and shocking to see how much of a difference in pay
there was between boys and girls in our network,” said BusyKid CEO Gregg
Murset. “As a father of both boys and girls I think this is an important
wake-up call for parents to be cognizant of what they are paying to make
sure they are being as fair as possible. I don’t think any parent would
intentionally pay differently based on gender, but clearly, it’s
happening.”

BusyKid is continuing the mission of helping kids use modern technology
to learn how to handle finances in a complicated world. The
award-winning platform is the only one that allows children 5-17 to earn
allowance and use it to save, share, spend and invest. BusyKid mobile
app features customizable and pre-loaded chores based on children’s
ages, automatic allowance allocation, investment opportunities in real
stock and the BusyKid Spend Card – a prepaid Visa® card for only $14.95
annually for an entire family.

“These findings can also be a great conversation starter for parents who
might be looking for an opening on how to discuss the financial world
with their kids. There is plenty in the news recently about fair pay and
opportunity for women, so maybe what we discovered will help parents
bridge into a topic that is relevant but rarely covered in school (or at
home) – personal finance.”

BusyKid Pay Analysis Findings:

Average Weekly AllowanceBoys $13.80Girls $6.71

Average Bonus GivenBoys $17.01Girls $15.54

Average $ SavedBoys $24.98Girls $23.49

Average $ SharedBoys $6.57Girls $8.47

Average $ SpentBoys $24.15Girls $23.30

View source version on businesswire.com: https://www.businesswire.com/news/home/20180711005137/en/

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