Will the gender pay gap last for 98 years?
31 August 2011
The Chartered Management Institute has released figures on the pay of male and female managers. Unfortunately, the full report costs £1,090, but the summary is interesting.
Junior female executives are now paid slightly more, on average, than men at the same level. And the average pay of female executives is rising slightly faster than that of men (2.4% and 2.1% respectively). But, on average, female managers are still paid less than the men. This ‘pay gap’ is £10,546 a year.1
One of the key points being reported is that, at this rate, it will be 98 years before female managers are paid the same as men. This is true but meaningless. I don’t know what will happen to men and women’s pay rates between now and 2109. But I’m pretty sure they won’t increase at a metronomic 2.4% and 2.1% each and every year.