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Category Archives: Financial System

The median gender pay gap: It’s time to tell the whole story

Quartz: “There are gender pay gaps … and then there are median gender pay gaps. Understanding the difference between the two may determine just how much progress women make in terms of fairer compensation in the next decade. So first, the definitions: “Equal pay” gap: What women are paid versus their direct male peers, statistically adjusted for factors such as job, seniority, and geography. Often referred to in the context of “equal pay for equal work.” “Median pay” gap:  The median pay of women working full time versus men working full time. This is an unadjusted raw measure used by the Organization for Economic Cooperation and Development (OECD).  Women in the US, for example, make 80 cents on the dollar versus men on this basis.

Equal pay gaps measure whether women are being paid commensurate with their peers for the work they are doing today. But median pay gaps measure whether or not women are holding as many high-paying jobs as men. Narrowing the median pay gap means putting more women in leadership (and reaping the performance benefits that diversity affords). And that’s where investors come in. Concerned shareholders in major US financial and tech companies want to make sure the pay gap difference is understood—and acted upon. Consider the case of Citigroup. While it is true that women at Citi are paid 99% of what men are paid on an equal-pay basis when adjusting for job function, level, and geography, the median pay gap at the financial giant paints a very different picture: Women at Citigroup earn just 71% of what the men earn…”

Fortune 100 Best Companies to Work For

Fortune 100 Best Companies to Work For – This year’s annual list of best companies to work for features Hilton in the top spot. But the companies on this list belong to a variety of industries, from grocery chains to tech organizations. Fortune research partner Great Place to Work evaluated everything from company perks to opportunities… Continue Reading

The 8 Most Common 2019 Tax Return Questions, Answered by Experts

The New York Times – The most important changes to the tax code in decades have taken effect — and filers are confused. We asked CPAs and other tax-prep pros to simplify things “Some level of bafflement attends tax-filing season every year. But in 2019, as Americans examine their returns for the first time under the… Continue Reading

Record 7 million Americans are 3 months behind on car payments – red flag for the economy

The Washington Post: “A record 7 million Americans are 90 days or more behind on their auto loan payments, the Federal Reserve Bank of New York reported Tuesday, even more than during the wake of the financial crisis. Economists warn that this is a red flag. Despite the strong economy and low unemployment rate, many… Continue Reading

2018 Global Go To Think Tank Index Report

“The Think Tanks and Civil Societies Program (TTCSP) of the Lauder Institute at the University of Pennsylvania conducts research on the role policy institutes play in governments and civil societies around the world. Often referred to as the “think tanks’ think tank,” TTCSP examines the evolving role and character of public policy research organizations. Over… Continue Reading

The government is using the wrong data to make crucial decisions about the internet

Recode – Bad maps mean federal money isn’t being spent where it should be to build out broadband connectivity. “High-speed internet is not really available where the government says it is. And that misinformation means that a lot of Americans, especially those in poor and rural areas, can’t get access to broadband — a service… Continue Reading

Inside Law Firms’ Best Results in a Decade

Law.com – Law firms were able to grow revenue more than expenses despite a big rise in the cost of associate salaries. “The law firm industry last year posted its best results in more than 10 years.Post-recession highs in demand and billing rate growth drove strong revenue growth—critical in a year where expense growth accelerated.… Continue Reading

10 Things to Know about the Required Beginning Date for IRAs

With many thanks to Pete Weiss – everyone should read this FAQ by a tax attorney will help to prevent costly errors when claiming income distribution during retirement – “If you have an IRA, you may have heard the term “required beginning date” or “RBD.” This is an important date that every IRA owner should… Continue Reading

Bribery, Kickbacks, and Self-Dealing: An Overview of Honest Services Fraud and Issues for Congress

CRS report via FAS – Bribery, Kickbacks, and Self-Dealing: An Overview of Honest Services Fraud and Issues for Congress, January 30. 2019. “As the trials of Sheldon Silver and Dean Skelos illustrate, corruption among high-profile public officials continues to be a concern in the United States. Likewise, recent examples abound of powerful executives in the… Continue Reading

U.S. wealth concentration returns to levels last seen during the Roaring Twenties

NBER Working Paper Series: Global Wealth Inequality , Gabriel Zucman, Working Paper 25462, January 2019. “This article reviews the recent literature on the dynamics of global wealth inequality. I first reconcile available estimates of wealth inequality in the United States. Both surveys and tax data show that wealth inequality has increased dramatically since the 1980s,… Continue Reading

There’s No Good Reason to Trust Blockchain Technology

Opinion – Wired: “…What blockchain does is shift some of the trust in people and institutions to trust in technology. You need to trust the cryptography, the protocols, the software, the computers and the network. And you need to trust them absolutely, because they’re often single points of failure. When that trust turns out to… Continue Reading

Executive Branch Ethics and Financial Conflicts of Interest: Disqualification

Via FAS: Executive Branch Ethics and Financial Conflicts of Interest: Disqualification, CRS Legal Sidebar, January 31, 2019 Continue Reading