Time in The Trenches Adds Up For Female Engineers

December 28, 2001 (PLANSPONSOR.com) - Professional women with more than two decades of experience in electro-technology and information-technology industries have higher median incomes than their male counterparts, a survey finds.

The survey by IEEE-USA, a unit of the Institute of Electrical and Electronics Engineers revealed that:

  • women with 20 to 24 years experience earned $100,037 per year from primary sources,
  • while men made $98,500, and
  • women with 25 to 29 years experience received $107,000,
  • while their male counterparts received $99,600

However, the group?s Salary & Fringe Benefit Survey of over 9,500 respondents also shows that at lower experience levels men earned more than women:

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  • men with 5 to 6 years have a median income of $76,000,
  • compared to $68,000 for women, and
  • men received $96,000 at 15 to 19 years,
  • while women earned $84,700

On the whole, a regression analysis shows that female US IEEE members are paid 7.3% less than men.

Analysis of survey data reveals a median primary income, which includes base salary, bonuses, commissions and self-employment income, of $93,100 for all US IEEE members in 2000 ? with women accounting for 6% of members.

Among ethnic groups,

  • Asian American IEEE members had the highest median primary income at a $99,000,
  • non-Hispanic whites were at $93,000,
  • while those from “other” had medians of $92,100, and
  • Hispanic members reported a median of $86,500, and
  • non-Hispanic African Americans made $86,340

An online salary calculator, based one the survey is available at http://www.ieeeusa.org/catalog/01salary.html

Ex-NYC Plan Sponsor Barsky Opts to Grow Hedge Fund

December 27, 2001 (PLANSPONSOR.com) - Adam Barsky, chairman of the New York City Employees Retirement System, has resigned to join a hedge fund.

Barksy, who spent eight years helping to manage the city’s finances under the Rudolph Giuliani administration, will start work at Millbrook Capital Management early next year.

There he aims to use his contacts in the public pension-fund arena to expand the fund, according to a Wall Street Journal report. Millbrook holds $50 million in assets.

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Since 1997, Barksy served as chairman of the New York City pension system, overseeing some $80 billion in retirement savings for the city’s employees.

He previously held the position of city budget director, overseeing the city’s $40 billion budget and assisting in the issuance of municipal bonds.

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