The gender pay gap is not just a reality for Hollywood actresses. Female CEO’s, managers and other leading roles in the UK retail industry earn on average 4,315 pounds less than their male counterparts.
According to new data from the Chartered Management Institute (CMI) and XpertHR, females in the retail industry earn a jawdropping 19.4 per cent less per year. While this is already a depressing figure, it is less than the national average gender pay gap which is even higher at 26.8 per cent.
The new data comes following new government regulations introduced in April this year forcing all companies with over 250 employees to disclose their gender pay gap.
In retail the average female manager’s salary is 17,937 pounds while the average male manager’s stands at 22,252 pounds.
Women hold less management positions in comparison to men
As of today, just 80 of the 7850 UK companies have fulfilled obligations to close the gap. The results also found that women are significantly more likely to hold a junior management positions (66 per cent) than men (34 per cent), while men are almost three times as likely to hold senior management positions.
“We have always known that the gender pay gap appears to widen with seniority,” XpertHR content director Mark Crail said. “But the results we are publishing today enable us to quantify the gap using a large volume of reliable, checked and verified pay data, drawn directly from employer payroll systems.”
“Some people have tried to explain the gender pay gap away as being the result of different working hours or individual career choices.But when the analysis is based on the pay of more than 100,000 individuals in well over 400 organisations, it is clear that the pay gap is a very real fact of life for UK managers.”
Research has suggested that closing the pay gap could add up to £150 billion per year to the UK economy by 2025. However 1.5 million of the 1.9 million new managers needed to fulfill this would have to be women to achieve balance.
Bar Huberman, editor of XpertHR stated: “Equal pay legislation has been around since the 1970s, giving m and women en the right to claim equal pay where they perform "equal work". The gender pay gap, however, covers the difference in the average earnings of men and women, regardless of their role or seniority. The causes of the gender pay gap are varied, including the impact of women taking time out of the labour market to have children.
To address the gender pay gap, the Government has introduced a completely new requirement for all large organisations to publish their gender pay gap. Employers need to publish six key metrics, and the information needs to include the difference in hourly earnings as well as the gap in bonus pay.
Photo credit: Gender pay gap, WAMC.org website; Article source: The Retail Gazette, XpertHR website