Financial sector: ‘Shocking disparity’ in gender p

Posted on Thursday, January 1st, 1970 by

An inquiry by the Equality and Human Rights Commission has found a ‘shocking disparity’ in earnings in some of the UK’s leading finance companies. According to statistics gleaned from 50 companies employing more than a fifth of the sector’s workforce, the inquiry found that women receive 80% less in performance related pay than male colleagues whilst nearly all women taking up new jobs in the sector started on lower salaries than men. Women earned an average of £2,875 in bonuses compared with £14,554 for men. Undertaking annual pay audits and publishing the data, appointing a board member to drive change and ensure maternity, paternity and parental support schemes are effective were just some of the reports’ recommendations to help close one of the widest pay gaps in the UK economy. It’s the first time that this kind of data has been collected by the commission but judging by the results, we’re guessing not the last…