PAY GAP SCANDAL CHEATING THOUSANDS OF WOMEN; Male Executives Earn [Pounds Sterling]10,000 a Year More Than Their Female Counterparts, Say Experts; Women 'Hardest Hit' by Recession
Byline: Victoria Allen
SCOTTISH women at the top of their careers can expect to be paid [pounds sterling]370,000 less than men over their working lives.
Annually, female executives take home [pounds sterling]10,638 less than their male counterparts, while women company directors are twice as likely to be made redundant.
According to a report from the Chartered Management Institute, women have been first in the firing line during the economic crisis. Even in the highest positions, female executives earn only [pounds sterling]3,000 more than the average women's wage, with an annual salary of [pounds sterling]29,480.
Men at the same level are paid [pounds sterling]40,118.
The report comes as working women battle with record childcare costs. Under new rules, some women also face losing child benefit payments if they or their partner annually earn more than [pounds sterling]60,000.
Cash-strapped companies have cut women's bonuses to less than half of those paid to men and are making double the number of female directors redundant.
This has prompted accusations that companies' books are being balanced by cutting the pay of women. Emma Ritch, of equal pay campaign group Close the Gap, said: 'These figures represent more bad news for working women, who are already struggling as a result of the sharply rising cost of childcare.
'Not only does the glass ceiling seem to be firmly in place, meaning that women's aspirations to work at senior levels are less likely to be met but women also seem to be losing out when it comes to bonus season.
'With women's pay packets essential to the financial security of most families, this is a further indicator that the burden of the economic recovery is weighing most heavily on women.' Scotland's gender pay gap is second only to London's and stands at [pounds sterling]10,638 a year, almost [pounds sterling]600 more than the UK average of [pounds sterling]10,060.
A woman aged 25 can expect to earn [pounds sterling]372,330 less than a male colleague by the time she retires at 60. …