The wage gap between men and women persists; but it isn't evenly distributed. For example, never-married women have nearly closed the wage gap, but the pay gap related to parenthood is increasing.
Taking into account all factors, fatherhood increases men's earnings by 6% (larger if you're white, professional, highly educated; it increases earnings if you're already privileged in the labor market).
Taking into account all factors, motherhood decreases earnings by 4% per child; although it's larger for low-wage workers and top earners don't experience any motherhood penalty.
For Millennials that becoming parents, this research is critical in helping them understand the important nuances in the wage gap; men that are least privileged in the labor market due (due to their skills, or due to their race) will receive a smaller bonus while less-privileged women will face the largest penalties.