Vanguard Says Women Save More Than Men at Every Income Level. Men Still Have 30% More

According to the 2026 Vanguard report, women save more than men at every income level, but men typically have 30% higher balances at the end of the year. This difference is primarily due to men earning more money to defer. When income is held constant, female participants in the $30,000 to $149,999 income band hold balances within 10% of their male counterparts, indicating that the gap is salary-driven rather than behavioral.

Only 14% of participants contribute the maximum $31,000, and even those earning over $150,000 leave contribution room unused.

In 2025, average deferral rates were 6.2% for women and 6.0% for men in the under $15,000 income band, which includes part-time and early-career workers. The gap widens slightly in favor of women as income increases. For instance, in the $30,000 to $49,999 income band, women deferred at a 5.9% rate compared to 5.8% for men. Many participants in this band rely on auto-enrollment defaults, which can impact their savings decisions.

The report shows that higher earners defer more on average, with rates reaching 9.4% for women and 8.8% for men in the $100,000 to $149,999 income band. However, even at the top of the income distribution, women have a slight edge in the deferral rate, although the dollar contributions still favor higher-paid participants. Male participants ended 2025 with an average balance of $194,597 and a median of $52,309, while female participants averaged $146,476 with a median of $42,139.

As the gap between salaries and balances grows over a career, the mechanics behind the figures become crucial in determining long-term financial stability.