So why aren’t more young women also outperforming when it comes to making more money than their parents? It could be due to the gender pay gap.

According to the Institute For Women’s Policy Research, women are paid 20 percent less, on average, than their male counterparts performing the same job.

For millennials, especially right out of school, though, the gap is lower. Data from the American Association of University Women says women typically earn about 90 percent of what men do until the age of 35. “After that, median earnings for women are typically 74–82 percent of what men are paid.”

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