Women bosses will have to wait 100 years for pay parity – but female junior execs are breaking gender pay barrier

31 Aug

Another day, another survey proving that women still lag behind men in the pay stakes – at the top levels at least. The latest report from the Chartered Management Institute (CMI) reveals that there is a £10,546 pay gap between male and female managers – which is £500 more than last year.

The National Management Salary Survey 35,000 executives showed that female managers earn an average of £31,895 and men earn an average of £42,441 for doing the same job. Women’s pay is rising faster than men, at 2.4% compared with 2.1% for men. So definitely a move in the right direction, but at a snail’s pace for female managers.

However, there is a light at the end of the gender pay tunnel for junior managers: at the lower levels of management, women are earning more than men for the first time. They earn typically £21,969, which is £602 on average more than their male peers.

Responding to the report, CMI’s director of policy and research, Petra Wilton, said: “While CMI is delighted that junior female executives have caught up with men at the same level, this year’s Salary Survey demonstrates, yet again, that businesses are contributing to the persistent gender pay gap and alienating top female employees by continuing to pay men and women unequally. This kind of bad management is damaging UK businesses and must be addressed.

“It is the responsibility of every executive – both female and male – the organisation and the government to help bring about change. Diversity shouldn’t be seen as something that has to be accommodated, but something that must be celebrated. Imposing mandatory quotas and forcing organisations to reveal salaries is not the solution. We need the government to scrutinise organisational pay, demand more transparency from companies on pay bandings, and publicly expose organisations found guilty of fuelling the gender pay gap.

“We want to see mentoring and sponsorship programmes in more businesses and industries and more female executives pushing their employers to formalise and publicise equal pay and opportunity policies.”

Commenting on the pay disparity at senior levels, Sandra Pollock, national chair of CMI’s Women in Management (WiM) network, said: “I’s disappointing to find that, at the current rate of increase it would be almost a century before men and women in executive jobs are paid equally. Why should a woman take on the responsibilities of a director-level position when the likelihood is still that she will be paid significantly less than the man sitting next to her at the boardroom table? ”

The CMI has a range of  resources called The Ambitious Women’s Toolkit to advise women on achieving support and advancement at work.

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