A survey of 39,000 managers by the Chartered Management Institute (CMI) has shown that the average woman executive earns £423,390 less across her career than a man on the same career path.
The figure suggests that the average man is paid £10,060 more per year, and the survey also revealed that women’s bonuses are less than half the size, too.
The CMI’s survey defines anyone from junior manager to boardroom as being ‘executive’, and said that the wider gender pay gap in this spectrum stands at about 25%, meaning there has been almost no change in the last 12 months. For comparison’s sake, if all job roles are considered rather than just executive roles, the survey reckons the gap is more like 10.5%.
The CMI’s chief executive, Ann Francke, said: ‘Companies are missing out on the full range of management potential at a time when we need to be doing everything we can to boost economic growth.’