Female physicians at U.S. public medical schools tend to get paid less than the men. The size of the pay gap depends on the specialty:
A new study reported that the gender pay gap remains at public U.S. medical schools where physicians are teachers, researchers and/or clinicians. That gap is a whopping $51,315. And, even after a multivariable adjustment, still the men took home $19,878 more than the women.
Like most of the pay gap studies, they had no definitive “why.” The reason could have been that home responsibilities diminish research and clinical productivity or that women care less about salary negotiation. Or it simply might have been discrimination.
Our Bottom Line: Circular Flow Models
In the following basic circular flow model, we can imagine countless product and factor markets. In those product markets, consumers demand the goods and services that businesses supply. And to find the gender pay gap, we would have to go to factor markets.