Despite the wage gap not being closed in its entirety, women are thriving professionally, and increasingly so. According to new research published by SmartAsset, women are becoming more successful across the board, but there are a few cities in particular that stand out.
The organization made their evaluations based on the following criteria: which cities boasted the highest median earnings, the highest percentages of female-owned businesses, the lowest unemployment rates, and the percentage of women who are earning more than $75,000 annually.
AJ Smith, VP of Financial Education at SmartAsset, told me that the city itself undoubtedly plays a role in how successful its women become. “Some cities offer better conditions for women to thrive professionally, which can potentially help them more easily reach their financial goals, like saving for retirement, paying off student loans or purchasing a home,” she says. Beyond that, it was clear that there was a correlation between cities with the highest success rates, and how many educated women lived there.
These are their findings, in order of first to last:
1. Madison, WI
- Madison has an unemployment rate of only 1.60 percent for women.
- About 20 percent of women have an income over $75,000.
- Almost 30 percent of the women in the city have at least a Bachelor’s degree.
- Madison has the sixth-highest rate of women business owners in the country, at 41.70 percent.
2. Plano, TX
- The city’s unemployment rate for women is 2.40 percent.
- Almost 28 percent of women have an income of $75,000 or more.
- The percentage of female business owners is also high, at 41 percent.
- The number of women who have at least a Bachelor’s degree is 35.50 percent.
3. Arlington, VA
- The city’s unemployment rate is 2.30 percent.
- 36 percent of women have at least a Bachelor’s degree.
- 53.40 percent of women have an annual income of at least $75,000.
View the full list here.