Women in finance still paid less than men

May 22 2012 by Brian Amble Print This Article

Women working in the financial services industry in the UK earn some 20 per cent less on average than men, according to the latest Salary & Bonus Survey Report from eFinancialCareers.

Despite taking into account years of experience, education levels and specific occupations, women finance professionals' base salary still emerged as being on average £14,500 less than their male counterparts in 2011. And when bonuses are factored in, males out-earned females by over £30,000.

"Despite an increased focus on diversity in the financial sector, our survey shows that women still struggle to get a fair deal when it comes to compensation," said James Bennett, Managing Director of eFinancialCareers.

"Financial services need to do more to narrow the gap, not only to promote equality in pay, but also to ensure they remain attractive to the best talent, men or women."

The survey, which quizzed more than 1,700 finance professionals, also found that while bonuses are down this year, base salaries have remained stable or increased for a majority of respondents.

Half of finance professionals responding to the survey said they had received a salary increase this year, a small decrease on the 60 per cent who said they had received a pay rise in 2010.