Women from banking and financial industries earn 22% less than male colleagues
Eight out of ten UK businesses pay men more than women, with a national wage difference of 9.4%, according to a new study.
The BBC survey, based on the difference in pay between the middle-ranking woman and the middle-ranking man, remains the same level as five years ago, at almost 10% – despite efforts to promote gender equality in business.
The largest difference surfaced from the banking and finance industries, where women earn on average 22% less than their male colleagues – the gap only decreased by 0.5% over the past five years.
The data comes from 13,992 employers, publishing their gender pay gap figures online, in a government initiative to make companies more transparent around pay.
Major corporations, such as easyJet, Lloyds Bank and Savills, were identified as the primary culprits for the difference – appearing to set unambitious targets for getting women into senior positions.
Other traditionally male-dominated sectors, such as construction, have narrowed the gap by 2.7%, better than most technology companies, which saw women earn 78p for every pound a man earns.
The research also revealed the difference widening within several sectors including; education, which increased by 0.9%.
Sheila Flavell CBE, Chief Operating Officer for FDM Group, said: “Talk and pledges are one thing, but it’s clear that not enough action is being taken to address gender pay gap issues in the workplace as well as opportunities for progression, particularly into senior positions. It’s important to acknowledge that solving the gender pay gap will not happen overnight, but with a dedicated approach to diversity, equity and inclusion, businesses can close the gap over the next 5 years and avoid a repeat of these figures.“