Marketplace®

Daily business news and economic stories
Season 4Episode 5Mar 7, 2023

Why do some people get paid more than others?

We’re breaking down the wage gap.

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Why do some people get paid more than others?
Camila Kerwin

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For this week’s question, both Henry and Nathanial wanted to know why some people get paid more than others. Ryan and Bridget help break down the “wage gap” with the help of the Vindicators superhero squad who are on a mission to make pay more fair. Plus, we brainstorm ways to fix the problem.

Graph of the pay gap between men and women.
Source: Bureau of Labor Statistics and Business Insider
Camila Kerwin

And now … tips for grown-ups listening to “Million Bazillion” with kids

Money Talks

After you listen to the episode, here are some questions you can ask kids to find out how much they learned about the wage gap:

  • What is the wage gap?

  • Why does the wage gap exist?

  • What are ways companies can make pay more fair?

(Scroll down or click here for answers!)

Tip Jar

If you and your kids want to learn more about the wage gap, here’s some extra material you might find helpful.

  • Here are more ways to talk to your kid about the wage gap from Girls Leadership.

  • Teaching kids to negotiate is an important skill that will help them fight the wage gap when they grow up. Listen back to our episode about the power of negotiation.

  • In this episode, the Vindicators decide to form the first superheroes union. The children’s book “¡Si, Se Puede!/Yes, We Can!” looks at the history of a janitors’ strike in Los Angeles.

Gimme 5

Thanks for listening to this episode. Do your kids still have questions about the wage gap, pay disparities or labor unions? Send them to us using this online form.

Money Talks Answers

  • The difference in pay between different workers.

  • Several reasons, including discrimination, implicit bias, limited child care options, societal beliefs.

  • Pay transparency. Double checking everyone’s being paid fairly. Not using someone’s pay at their last job to determine pay at their new job.

This episode is sponsored by Greenlight. (For a limited time, get $10 when you sign up for a Greenlight account at greenlght.com/MILLION).

The Team

Thanks to our sponsors

NGPF

The Ranzetta Family Charitable Fund and Next Gen Personal Finance, supports Marketplace’s work to make younger audiences smarter about the economy. Next Gen Personal Finance is a non-profit that believes all students benefit from having a financial education before they cross the stage at high school graduation.

Greenlight

Greenlight is a debit card and money app for kids and teens. Through the Greenlight app, parents can transfer money, automate allowance, manage chores, set flexible spend controls and invest for their kids’ futures (parents can invest on the platform too!) Kids and teens learn to earn, save, spend wisely, give and invest with parental approval. Our mission is to shine a light on the world of money for families and empower parents to raise financially-smart kids. We aim to create a world where every child grows up to be financially healthy and happy. Today, Greenlight serves 5 million+ parents and kids, helping them learn healthy financial habits, collectively save more than $350 million to-date and invest more than $20 million.

Sy Syms Foundation

The Sy Syms Foundation: Partnering with organizations and people working for a better and more just future since 1985.