Mind the gender pay gap
New transparency rules show female managers earn £12k less than male colleagues.
Analysis of managers’ salaries conducted by the CMI and XpertHR shows the gender pay gap as calculated under the Government’s new reporting regulations stands at 26.8 per cent, with male managers on average out-earning female peers by £11,606 a year - £3,000 more than previously thought. This includes salary and bonuses, as well as perks such as car allowance and commission.
View the press release Too many businesses are like ‘glass pyramids’ with women holding the majority of lower-paid junior roles and far fewer reaching the top. We now see those extra perks of senior management roles are creating a gender pay gap wider than previously understood. The picture is worst at the top, with male CEOs cashing-in bonuses six times larger than female counterparts’.
Ann Francke, CEO, Chartered Management Institute
Gender salary reporting now compulsory: are employers complying?
New regulations which came into force in April 2017 now require large organisations to report how much they pay men and women. Yet as of 21 September, only 77 out of the 7,850 UK companies to which the new law applies have reported on their gender pay gap.
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