Home Business News Women managers earn £12k less than fellow men

Women managers earn £12k less than fellow men

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Female managers are earning an average £12,000 less than their male counterparts, new research shows.

Analysis of the salaries of the UK’s 3.3 million managers by the Chartered Management Institute (CMI) and XpertHR found the gender pay gap now stands at 26.8%.

The gap – which includes salary and bonuses, as well as perks such as car allowance and commission – increases to £34,144 for director-level positions.
Large companies with more than 250 employees must reveal the difference between the average pay of male and female staff under new Government reporting regulations introduced in April.
However, the study found that only 77 of the 7,850 UK companies to which the new law applies have fulfilled their obligations.
Researchers also found that women are far more likely to fill junior management positions than men (66% compared with 34%). Men are more likely to occupy senior positions with around 26% of director-level roles occupied by women, compared with 74% by men.

Image: The gender pay gap increases to £34,144 for director-level positions
CMI chief executive Ann Francke said: “Too many businesses are like ‘glass pyramids’ with women holding the majority of lower-paid junior roles and far fewer reaching the top.

“We now see those extra perks of senior management roles are creating a gender pay gap wider than previously understood.
“The picture is worst at the top, with male chief executives cashing in bonuses six times larger than female counterparts.
“Our data shows we need the Government’s gender pay gap reporting regulations more than ever before. Yet, less than 1% of companies have reported so far.”
Mark Crail, from XpertHR, added: “Some people have tried to explain the gender pay gap away as being the result of different working hours or individual career choices.
“But when the analysis is based on the pay of more than 100,000 individuals in well over 400 organisations, it is clear that the pay gap is a very real fact of life for UK managers.”

Source: Sky News