The Rise of the Female Breadwinner

Despite significant changes in how society views families and the roles that men and women play within them, there’s still a sense — on the part of both some men and women — that men should be the providers. Historically there has been a long-held view that the male is the main earner of households, a view which, thankfully seems to be diminishing.

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The fact is though, that times are changing, and it is commonplace now for women to take over the role of main breadwinner. It is widely recognised that profound changes in family structure and employment patterns have taken place in recent decades.

Women balancing work

Women’s roles have changed, marriage rates are declining [1] — and the family unit in many situations today looks far different than it used to. The rise of female breadwinners highlights the fact that, not only are more women balancing work and family these days, but the economic contributions women are making to their households have grown immensely.
The trend is being driven mostly by long-term demographic changes, including higher rates of education and labour force participation dating back to the 1960s women’s movement [2] . But despite the apparent shift towards gender equality in relationship finances, childcare continues to represent a chasm between men and women.

Traditional earning dynamic

Today, women out-earn male partners in almost a quarter of households, up from a fifth 16 years ago, according to research [3]. The findings show a shift in the traditional earning dynamic between couples and reveal the common assumption that male partners are the higher earners is becoming outdated.
A rise in the proportion of female breadwinners and women who earn the same as their male partners has potentially profound consequences for society, including:

• The way couples spread the burden of caring responsibilities for children and adult relatives
• The way couples manage their joint finances
• The gender pay gap and pension gap

The shift may also suggest that demand for wealth products and financial advice will increasingly come from women. These changes suggest women’s earning patterns are breaking out of a vicious circle that has persisted for generations, in which women have traditionally assumed caring roles, so have earned less, then because they earn less, their incomes and careers often take the hit when caring duties arise.

Strengthen the economy

However, there are plenty of couples finding ways to navigate changing roles, and there is a growing realisation that they’re not in an earning contest. As a result it doesn’t really matter in the end who makes more money. Furthermore, in those households where women already earn more, it may make economic sense for male partners to take on more of the responsibilities that typically take women out of the workplace.

Understanding this dynamic of earnings in someone’s household can also help employers shape HR policies on things like flexible and part-time work for men as well as women. Chances are, you or someone you know is among these working women who help strengthen the economy, inspire a generation of children and take charge of their family’s financial well-being. It’s a tough job, but the rewards are many.

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