Gender Differences in Personal Income and Financial Risk Tolerance: How Much of a Connection?

Prior research indicates that relative to men, women generally have lower incomes and typically are more risk averse. In a sample of the clientele of financial planners, men had higher personal incomes and exhibited greater financial risk tolerance, which is consistent with previous studies. The aut...

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Bibliographic Details
Published inThe Career development quarterly Vol. 58; no. 3; pp. 270 - 275
Main Authors Roszkowski, Michael J., Grable, John E.
Format Journal Article
LanguageEnglish
Published Oxford, UK Blackwell Publishing Ltd 01.03.2010
National Career Development Association
Subjects
Analysis
Coding
Doctoral Degrees
Earnings
Emotional Response
Employment
Evaluation
Family income
Females
Financial planners
Gender
Gender differences
Gender Discrimination
High School Graduates
Income distribution
Investment policy
Majors (Students)
Males
Management training
Marital status
Meta Analysis
Personal income
Productivity
Public sector
Regression analysis
Salaries
Studies
Wage differential
Wage gap
Wages
Wages & salaries
Women
Work Experience
United States
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Summary:Prior research indicates that relative to men, women generally have lower incomes and typically are more risk averse. In a sample of the clientele of financial planners, men had higher personal incomes and exhibited greater financial risk tolerance, which is consistent with previous studies. The authors' objective was to determine how much of the gender difference in income could be explained by risk tolerance. Results indicate that risk tolerance can explain some of the variation in earnings between women and men but that it is not a primary reason for the wage gap.
Bibliography:istex:662B49B0BA6DAF1388913146098F8D7A7FD9AC51
ark:/67375/WNG-5L0WRDVG-V
ArticleID:CDQ192
ISSN:0889-4019
2161-0045
DOI:10.1002/j.2161-0045.2010.tb00192.x