With one of the most visible signs of gender inequality in the workplace has been the gender pay gap, the difference between men’s and women’s salaries fell to a record low last year – standing at 19.1 per cent according to the Office of National Statistics.
Less discussed has been the role of bonuses, which Emolument – a crowdsourcing salary data website – believes is a big contributor to the pay gap problem.
Men’s bonuses are apparently twice as high as women’s, according to the analysis of over 49,000 wages. Females who have graduated from university within the past five years earn an average of 17 per cent less than their male equivalents.
The discrepancy is less, but still exists for workers within five years of completing their MBA, with the woman’s average salary at £74,700, while for men it’s £86,800. The real distinction is in the bonuses – men take home £50,000 to women’s £27,000, nearly double the figure. The total pay packet is then affected, with women earning around three quarters of what men earn in this category.
A new Women in Financial Institutions index also recently released research into sexism in the City of London and also found that men were being better rewarded for their work.
Read more on earnings:
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.