Financial services “at risk of discrimination claims”
Female FTSE 350 financial services directors get paid 66% less than their male counterparts, finds study. How can the industry close the gap?
The gender pay gap is a controversial and hotly debated topic. Despite overwhelming evidence to the contrary, some still believe it to be a myth, citing biological differences, maternity leave and women choosing lower-paid roles as reasons for potential differences in pay.
But even when women do take up senior leadership roles, the gap is still there. New data from employment law specialists Fox & Partners found that female board directors at FTSE 350 financial services firms are being paid 66% less than men, which is unchanged from previous years.
The average annual pay for female directors in financial services currently stands at £235,000 compared to £689,000 for their male counterparts.
