Finance Visualizations
Visualizing the Gender Pay Gap Over Time
Data can be the key to exposing injustices in society. These graphs are a strong example of that. They examine the pay gap between men and women ever since the introduction of the Equal Pay Act. This legislation was supposed to eliminate the gap entirely, but we can see from the graphs that even sixty years later, the gap still exists. There has been some improvement. In the 60’s the pay gap was $0.61 to the man’s dollar and we’re now up to $0.84 to a man’s dollar in 2022. Graphs like this make it clear when we still have work to do:
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The Equal Pay Act was introduced to give workers of all kinds more rights. It covered child labor as well as the gender-based wage gap. Following the timeline displayed, we can see that it certainly had an effect on the wage gap, but it didn’t close it entirely, and change came slowly. It’s no coincidence that this came about in the 1960s since previously, it was uncommon for women to work outside the home. When they did, they were limited to roles like nursing, teaching, and secretarial positions. The feminist movement of the 60s helped millions of women enter the workforce, but it was clear right away they wouldn’t be treated the same as their male coworkers. We love how the data presents a detailed picture of this issue. You can see comparisons by the dollar and by yearly salary. In both cases, women consistently lag behind for no discernible reason other than their gender. Using calculations based on all this data, we can predict that if change continues at this rate, the gap won’t close for another few decades. We hope visualizations like this can help inspire faster change!
Business Visualizations
Chart Visualizes the Price of the Ford Mustang Every Year Since Debut
The Ford Mustang is a legendary American muscle car that symbolizes the culture of open-road freedom. The Ford Motor Company designed the vehicle to embody the European sports car, but with a price point that’s more attainable for middle-class Americans. The idea was a massive success. The first Mustang debuted in 1964, and the Mustang enjoys a legacy and loyal fans to this day. The team at Speedway Motors celebrates the Mustang with an illustrated graphic depicting each Mustang iteration, along with the price at release and the price adjusted for inflation.
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Through this detailed and illustrated chart, we can see the evolution of this vehicle. The first Mustang Hardtop was priced at $2,368, which is $24,3444 in today’s market, emphasizing its affordability in the world of muscle cars. While the Mustang was a gamble, it proved to be a phenomenon and sold over 100,000 cars in its first four months. The Mustangs’ popularity persisted throughout the ‘60s, and Ford focused on improved performance and power, which meant prices rose. This trend continued until the early ‘70s gas crisis when Ford had to adjust to new consumer demands for better fuel mileage. They designed the Mustang II with a smaller chassis and less muscle to adjust to the changes in the economy.
The Mustang’s popularity hit a dip in the early ‘80s, and the Camaro almost outsold it. Ford innovated and adjusted again with the release of the Fox Mustang, designed to be versatile as a day-to-day muscle car. As technology advanced into the ‘90s, Ford introduced popular new features like a V8 engine and SN-95 chassis, which we can see featured in the Mustang GT.
Today’s Mustang is loaded with the most innovative features, designed for performance and comfort. The current model is the Dark Horse Premium, which sells for $69,375. While it’s a flashy and popular car, it lacks some of the performance boosts of past models, yet the price is high.
The Mustangs’ prices have risen a lot over the decades, for several key reasons besides inflation. First, safety standards have increased with innovative technology making drivers safer. Some safety features are required, while others are sought-after bonuses that drivers are looking for. A key aspect of a muscle car is the power and performance. Modern technology advances the performance of the vehicle, but that engineering comes at a higher price point. Material costs have advanced as well, from labor to raw materials. Cars, in general, are now more expensive to build.
The team’s chart is a true testament to the power of visual data. Through the images and price points, we can see changes in the Mustang reflecting cultural and economic shifts, creating a fascinating timeline of an icon among automobiles. Do you have a favorite Mustang model? What do you think about the price changes over time?
Charts
Study Examines What Americans Spend the Most Money On
As the economy shifts, we can see changes in consumer spending habits, as reflected in this Qualtrics study, which reveals what Americans spend the most money on. These insights show us what Americans prioritize and how much flexible spending money they have available for non-essentials. Using data from the U.S. Bureau of Labor Statistics, the team created a chart breaking down spending by category and then a further breakdown of spending categories by income bracket.
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According to the data collected, Americans spend around $77,280 per year. This spending was divided into these categories, ranked by the amount spent on each.
- Housing – $25,436 (32.9% of total annual expenses)
- Transportation – $13,174 (17% of total annual expenses)
- Food – $9,985 (12.9% of total annual expenses)
- Personal insurance and pensions – $9,556 (12.4% of total annual expenses)
- Healthcare – $6,159 (8% of total annual expenses)
- Utilities, fuels, and public services – $4,625 (6% of total annual expenses)
- Entertainment – $3,635 (4.7% of total annual expenses)
- Household furnishings and equipment – $2,508 (3.2% of total annual expenses)
- Apparel and services – $2,041 (2.6% of total annual expenses)
- Personal care products and services – $950 (1.2% of total annual expenses)
- Alcoholic beverages – $637 (0.8% of total annual expenses)
- Tobacco products and smoking supplies – $370 (0.5% of total annual expenses)
Across income categories, Americans spent the most money on housing, which comes as no surprise. Housing costs and mortgage interest rates have been on the rise since 2020 in response to a shortage in housing stock. That means Americans must spend more if they dream of home ownership. The team’s data takes rent into account as well.
Many people also spent a lot on transportation. This is due to a combination of rising fuel costs leading to higher vehicle prices, as well as parts shortages that affected vehicle stock and prices. Another necessity takes number three on the list. According to the data, Americans are spending $1,174 a month on groceries. Grocery prices have dominated newsfeeds for the past few years. We all need food to survive, so seeing this item so far up the list is no surprise.
With so much uncertainty in the world, it seems Americans are investing heavily in insurance and pensions. The data shows that the more money someone makes, the more they spend on insurance, which makes sense as they need to protect expensive assets. Insurance can help offset unforeseen costs and protect investments. Unfortunately, this insurance spending is shared with high healthcare spending as well. Americans spend more than most citizens of other wealthy nations. As the cost of living has increased, so have health insurance premiums. Healthcare spending not only includes health insurance, but also co-pays, medical supplies, and surprise bills.
We live in an era full of strange relationships with money and wealth. Many Gen Z Americans state feeling “pressured” to show off wealth and luxury on social media, while 41% of Americans don’t feel they’re financially secure. Despite rising expenses, Americans still enjoy shopping, with many of them choosing to go shopping as a treat once a month. Gen Z cites boredom as their number one reason for spending money. Even so, 73% say they are willing to cut back on their daily spending to save for longer-term goals. It seems that although prices are rising, many Americans, particularly younger ones, are still willing to spend on a variety of areas.
Business Visualizations
Billionaires Who Built Up from Small Businesses
The world of entrepreneurship loves the tale of a small business startup that grew into a billion-dollar business. The team at Ooma illustrated the biggest names in this world of billionaires with a timeline showing how long it took them to reach their status from a small business start-up to a billion-dollar milestone.
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The graphic features 28 billionaires who built up from a small business. All names were pulled from the Forbes 400 list. While the graphic is stuffed full of details, the most fascinating is the measure of how many years they needed to become billionaires.
The first person to achieve the “self-made” billionaire status was John D. Rockefeller in 1916. The oil tycoon rode the wave of the industrial era to billionaire status. Today, there are almost 3,000 billionaires worldwide. The U.S. is home to the highest number, at 813 billionaires. We can see an industry trend in this graphic, which is that tech dominates. This is no surprise. As Rockefeller benefited from the need for oil, how we worked and what we produced changed completely, and tech has changed every aspect of our lives, so it’s no surprise that these entrepreneurs have reaped the rewards.
Notable examples are Bill Gates, founder of Microsoft, who led the way in introducing the personal computer to the general public. Warren Buffett took a different approach. He grew wealth by investing wisely in assets. Elon Musk started his first business with Zip2 in the early days of the Internet.
The Billionaire Journeys
The chart shows us that it took different people vastly different amounts of time to reach their status. Bezos and Zuckerberg were the fastest, becoming billionaires in just four years. Others like Donald Bern and John Menard Jr. had a slow build that took 43 years. Many people land somewhere in between these extremes, emphasizing that successful entrepreneurship takes dedication and persistence. We also see on that chart that there is only one woman, Diane Hendricks. This suggests that entrepreneurship and business are still rife with bias.
The Journeys of the Top 10 Billionaires
This is how long the wealthiest billionaires took to hit their status:
- Jeff Bezos: 4 years
- Mark Zuckerberg: 4 years
- Jan Koum: 5 years
- Larry Page: 6 years
- Sergey Brin: 6 years
- Henry Samueli: 9 years
- Bill Gates: 12 years
- Michael Dell: 12 years
- Steve Cohen: 12 years
- David Tepper: 13 years
Many people on this list transformed their industries, showing that successful entrepreneurs are creative and innovative. They show us that entrepreneurs should look for emerging trends in their industry, leverage new technology, and make strong investments. While a lot depends on love, it’s clear that persistence is key. The list gives us an idea of what kind of industries people can generate billion-dollar businesses in and how long it might take to get there. This chart is a great introduction to these business pioneers, and many of these billionaires have published books and given out advice on how they made their businesses a success.
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