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2019 Big Survey: Wide Pay Gap Persists Among Men, Women Jewelry Store Owners

Results of the 2019 Big Survey are in. Here’s a sample.

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ACCORDING TO THE latest INSTORE Big Survey, women jewelry-store owners continue to earn considerably less than their male counterparts: 33% of the women owners generate less than $40,000 in income from their business compared to just 13% of the men owners. At the other end of the scale, 25% of male owners take home more than $150,000 a year compared to just 2% of women owners. The good news is that gender stereotypes are less evident elsewhere. Nobody can accuse of male jewelers of not being “woke” where it matters. Twenty three percent of the male owners said they always cleaned the floor versus 26% who always delegated it. That’s a sign of progress, right?

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2019 Big Survey: Wide Pay Gap Persists Among Men, Women Jewelry Store Owners

Our questions on earnings and gender were part of our annual look into the lives and business practices of America’s jewelers. While the proportion is rising, women still make a minority of jewelry-store owners or managers (see chart), and generally helm newer businesses (most are first-generation store owners).

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2019 Big Survey: Wide Pay Gap Persists Among Men, Women Jewelry Store Owners

The 2019 Big Survey was conducted in September and October and attracted responses from more than 800 American jewelers. Look out for all the results in the November issue of INSTORE.
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SPONSORED VIDEO

Honoring a Legacy: How Smith & Son Jewelers Exceeded Every Goal With Wilkerson

When Andrew Smith decided to close the Springfield, Massachusetts location of Smith & Son Jewelers, the decision came down to family. His father was retiring after 72 years in the business, and Andrew wanted to spend more time with his children and soon-to-arrive grandchildren. For this fourth-generation jeweler whose great-grandfather founded the company in 1918, closing the 107-year-old Springfield location required the right partner. Smith chose Wilkerson, and the experience exceeded expectations from start to finish. "Everything they told me was 100% true," Smith says. "The ease and use of all their tools was wonderful." The consultants' knowledge and expertise proved invaluable. Smith and his father set their own financial goal, but Wilkerson proposed three more ambitious targets. "We thought we would never make it," Smith explains. "We were dead wrong. We hit our first goal, second goal and third goal. It was amazing." Smith's recommendation is emphatic: "I would never be able to do what they did by myself."

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