Mark Pack

Gender pay gap in City ‘shocking’ – BBC

By | Tue 8th September 2009 - 11:41 pm

News in via the BBC:

Men working in the UK’s financial sector receive five times more in bonus payments than women, according to a survey of 44 leading companies.

On average, women earn £2,875 compared with £14,554 for men, the Equality and Human Rights Commission found…

One of the main reasons for the vast difference in bonuses is that relatively few women reach the top ranks of financial firms where the biggest rewards are paid.

It comes on top of an average difference of 39% between men and women’s basic salaries…

John Cridland, deputy director general of business group the CBI, said parts of the financial services sector still had “some further distance to go” in terms of equality.

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One Comment

  • Jon 9th Sep '09 - 8:54am

    Actually there are quite a few women in senior management positions – where women are seriously underrepresented is on the trading desks where many of the large bonuses are paid.

    The reason for that is that they simply don’t apply. I’ve scanned probably 1000 CVs for trading jobs of whom no more than 3% were women. Most we would have interviewed anyway even though purely on paper it should have been none.

    It’s a bit like PPC selection I suppose.

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