Will new government plans help close the gender gap?
David Cameron made an announcement on 14th July 2015 that the government plans to tackle the gender gap in salaries by encouraging more transparency in large companies. While the government's plansfor companies with more than 250 employees to publish their average pay female and female workers is a welcome step in the right direction, our stats actually show that the gap may actually be more pronounced in smaller companies. For example:
For retail managers, the gap for large companies stands at 11%, while for companies with less than 250 employees it is as much as 26%.
At VP level in investment banking, men receive bonuses 50% bigger than their female counterparts in smaller companies, but double the size in organisations with over 250 employees.
In consultancy, there appears to be no gender gap for senior consultants in large organisations but there is a 20% difference for companies with less than 250 employees.
The same is true for Legal Associates, with an equal salary in large firms but a 15% difference in firms with less than 250 employees.
Tables illustrating the salary gender gap for small and large companies in a selection of industries are shown below:
Retail: Managers
| Women salary | Men salary | Gender gap |
|---|---|---|---|
250+employees | £29,000 | £32,000 | 11% |
Lessthan 250 employees | £30,000 | £36,000 | 26% |
Investment Banking:VP
| Women salary | Women bonus | Men salary | Men bonus | Gender Gap |
|---|---|---|---|---|---|
250+employees | £86,000 | £15,000 | £100,000 | £30,000 | 22% |
Less than250 employees | £87,500 | £20,000 | £100,000 | £30,000 | 17% |
Consultancy: SeniorConsultants
|
| Women salary | Men salary | Gender gap |
|---|---|---|---|
250+employees | £50,000 | £50,000 | 0% |
Less than250 employees | £40,000 | £50,000 | 20% |
Legal: LegalAssociates
|
| Women salary | Men salary | Pay gap |
|---|---|---|---|
250+employees | £71,000 | £71,000 | 0% |
Less than250 employees | £46,000 | £54,000 | 15% |
If you want to find out where you stand you to make more informed decisions about your next career move, just submit your details to access your own personalised salary report now.
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