- A global survey found that many Gen Z men feel they are being asked to do too much to support women, with some believing gender equality efforts have led to discrimination against men despite evidence that gender equality benefits everyone. Meanwhile, research from Bank of America highlights that women’s increasing prosperity expands overall wealth, positioning them as key drivers of economic growth.
Men across the world feel they are being asked to do too much to support women, despite the fact that they directly benefit from women’s prosperity.
A survey of more than 24,000 people across 30 countries revealed 57% of Gen Z men felt their nation had “gone so far in promoting women’s equality that we are discriminating against men.”
Six in 10 Gen Z men also said they were being asked to do too much to support women, with 28% adding that a father who stayed home to look after his children is less of a man than those who went to work.
Across the board, Gen Z had more extreme views on their role in creating an equal society than any other generation. For example, only 12% of baby boomers agreed with the statement that fathers staying home meant they were less of a man.
Likewise, under half of boomer men (43%) told the study—carried out by Ipsos UK and the Global Institute for Women’s Leadership at King’s College London—that they were being asked to do too much to support equality.
Strangely, Gen Z men were more likely to describe themselves as feminists than other generations with 32% agreeing with the statement. Likewise 32% of millennial men said they were feminist, compared to 29% of Gen X men and 28% of baby boomers.
Overall, however, 62% of men across countries including the U.S., Australia, Great Britain, Canada, and Japan said that achieving gender equality is of personal importance to them.
“It is essential to promote a growth mindset, reinforcing the idea that gender equality can benefit everyone,” said Professor Heejung Chung, director of the Global Institute for Women’s Leadership at King’s College London. “We remain committed to demonstrating how advancing gender equality improves the lives of both men and women, strengthens society, and drives business success.
“Despite the divisive headlines, our survey highlights that most people—including men—still agree that achieving gender equality…is important to them personally. Many problems we face are shared, and all genders can and should come together to address the challenges we face as a society, as only by uniting our efforts can we meet them.”
Women grow the wealth pie, BofA study shows
The notion that women’s prosperity benefits everyone isn’t just a social argument—there’s a clear economic advantage as well.
Research released this week by Bank of America found the difference in median annual income growth between men and women is falling—down to 4% by the end of 2024 compared with 6.5% in 2022.
This, coupled with the oncoming Great Wealth Transfer, has led America’s second-largest bank to conclude that women are positioned “to be key drivers of economic growth. However, this isn’t at the expense of men. As wealth increases, women’s prosperity will help to ‘grow the pie’ of total affluence, expanding opportunities across the board.”
Explaining its conclusion, BofA economist Taylor Bowley wrote that $54 trillion will be transferred to surviving spouses in the Great Wealth Transfer—95% of whom will be women. Moreover, a further $47 trillion is expected to go to women in younger generations inheriting wealth.
“Half of all U.S. Wealth is held by Baby Boomers and these inheritances are already being passed down,” Bowley wrote. “The result: women will soon control more money than ever before—and how they use this money is expected to have a profound impact.”
Read more from Coins2Day
On earnings, Bowley continues: “Women today are more educated than ever before. The result is that women are entering the workforce at higher levels, have greater career aspirations and expect higher pay. Furthermore, women today are marrying later, having fewer children, and more of them are remaining in the labor force after having a child.”
But not only are women earning more and for longer, they’re becoming more powerful consumers: Women’s spending growth on both necessary and discretionary items outpaced men’s throughout the majority of 2024, Bank of America data shows—though it has come down from its peak in 2021.
“As women gain more disposable income, it will likely bolster demand for products that have been less valued in the past,” Bowley adds. “Wealthier populations may also drive more demand for e-commerce and logistics (including online purchases and at home delivery), personal services, and home-based care… However, this spending doesn’t have to come at the expense of men. As women become richer it helps to ‘grow the pie’ of total affluence, expanding opportunities for all.”
