The phrase means that a group or individual is better, more skilled, or more capable than another group or individual who are also their peers but of different gender. Full definition
Common (and unfortunate) across many sectors: women tend to be paid less than their male counterparts for same position or work. (educate78.org)
Money is no longer a determining factor for them due to the fact that currently women are known to earn more than their male counterparts. (datingtolove.com)
If you get paid $ 15,000 less than your male counterpart in one job, it's hard to make up the difference when your next employer asks you about your last salary. (techcrunch.com)