The Gender Pay Gap

Published: 9th June

Another year, and another set of figures showing the gender pay gap, with men on average being paid more than women.  Perhaps what is most striking, beyond the actual figures themselves, is that the gender pay gap in itself is nothing new (equal pay legislation has been around for 40 years) and, this year,  it appears to be getting worse.

Emolument (a salary benchmarking website) found that Female workers who have graduated from university within the past five years earn an average of 17% less than their male peers, according to an analysis of more than 49,000 wages.

 

Perhaps somewhat astonishingly, the UK has the sixth largest gender pay gap in the European Union, according to recent data from the statistics agency Eurostat.

The Chartered Management Institute survey based on 43,000 workers shows that male managers’ earnings across all levels are rising faster than women’s for the first time in five years.

 

We’re going backwards.

Yvette Cooper from the Labour party describes it as “disgraceful” that the gender pay gap seems to be widening.   This is true, however, unfortunately it’s not as simple as blaming the current politicians in power.  This is an on-going battle, we’ve had 40 years of equal pay law but the problem still persists.

 

Lynne Featherstone, the former women’s minister, last year said employment tribunals would be given the power to make employers who are found guilty of sex discrimination to carry out equal pay audits.  This has not been introduced yet.

One report by Conservative MPs earlier this year called for businesses to publish their gender pay gap by rank, including the number of women getting promoted at each level.

 

But what will this really achieve?

“No woman should be paid less than a man doing the same job, simply because she’s a woman.  But we must look at the reasons behind the on-going pay gap.” Says Louisa Peacock from The Telegraph.

Defining gender discrimination goes much deeper than a survey based on pay packets…this debate will continue at our next event, “Sexism In The City” on the 24th June, at Hult International Business School.

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