Women managers in the Midlands earn an average of pounds 11,346 less than their male counterparts - the second largest gap in the UK's nations and regions.
Female executives in the region are paid on average 27.5 per cent less than their male counterparts - pounds 29,969 as opposed to pounds 41,315, according to figures released by the Chartered Management Institute (CMI).
On a national level, male managers get paid around 25 per cent more than female managers in the same roles - pounds 42,441 compared to pounds 31,895, revealing a gender pay gap of pounds 10,546.
But for the first time in history, female executives are earning as much as their male counterparts at a junior executive level - it is higher up the scale that the disparities arise.
Although salaries for women are improving at a slightly faster rate than for men, female executives still face a 98-year wait until they achieve parity at the current levels of progress.
Angela Maxwell OBE, managing director of consultancy firm Acuwomen and Advantage West Midlands board member, said she was concerned about the figures.
"There is no getting away from it, that is a very worrying statistic and one that doesn't reflect well on West Midlands plc.
"I think we all know that there is an issue around the gender pay gap and it is the responsibility of everyone in business - both male and female - to seek and indeed push forward more pro-active measures that will encourage greater transparency and equality throughout the management hierarchy. "In my experience, I have not been a victim of this issue first-hand, but this may well be down to the sectors that I have chosen to work in.
"I am, however, partly reassured that in recent consultancy roles I have seen numerous large organisations that are actively championing equal pay and these should be promoted as positive role models for other companies to follow. …