The study’s other main finding is that a woman generally needs more degrees than a man in order to earn the same amount of money. For example, the average woman must obtain a Ph.D in order to keep pace with the average bachelor’s degree-holding man.
“The women’s story is grand and dismal,” concluded Carnevale. After scanning all 171 majors included in the study, he found not one major where women consistently out-earn men.
The report also found similar gaps by ethnicity and race. For instance, African Americans and Latinos earn less money than their white peers — even those whites with less education. Further, the average African American or Latino with a master’s degree doesn’t exceed the lifetime earnings of white bachelor’s degree holder. Finally, the report concluded that Asian Americans with graduate degrees earn more than all other races, including whites.

