Equal Pay for Women Executives Is 100 Years off, Claims Report
Stevens, Jenny, The Independent (London, England)
FEMALE EXECUTIVES hoping to be paid as much as their male colleagues face a wait of almost 100 years, according to a damning report which shows that the pay gap between men and women at the top level of business has widened to 10,546.
A study conducted by the Chartered Management Institute (CMI) - a professional body for managers - examined the salaries of 34,158 employees working in executive positions in UK organisations, from junior executives up to those at board level.
Between February 2010 and February 2011, male executives earned 42,441 on average, compared with 31,895 for women - an increase of 515 on last year's 10,031 pay gap.
The study follows a report by the Equality and Human Rights Commission earlier this month that revealed huge disparity between men and women in employment and pay.
Although salaries for female executives are growing faster than men across the board, with men's pay increasing by 2.3 per cent in the past year compared with 2.8 per cent for women, CMI estimates that with such a slow rate of progress it will take until 2109 before female executive salaries reach the same level as men's.
CMI's director of policy and research Petra Wilton said: "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."
There is good news, however, for women in junior executive positions, as the study shows women beginning to break down pay inequality earlier on in their careers. …