The gender gap in London:
Investment Banking still has some way to go!
In celebration of the International Women's Day 2014, we decided to look at the gender pay gap in investment banking.
Progress?... what progress?
Apart from Analyst level where women's salaries are higher than men's in 2014, differentials have not shifted fundamentally from 2013 to 2014. Senior female bankers are the exception to the rule: at MD level, women's base salaries are up from an exact match to men's in 2013 to a full USD 30,000 ahead in 2014.
Fingers pointed to bonuses
Bonuses for women MDs are down over the period by USD 160,000, while men saw a huge uptick in their bonuses from 2013 to 2014 by USD 119,000. Well below the radar, bonuses are still subjected to huge male/female spreads: across the board, base salaries are fairly comparable, however the differential in terms of total compensation is due to the bonus component.
With increasing internal gender audits in banks, salaries bear closer scrutiny, with women's even occasionally overtaking men's. However, bonus figures are still opaque and shrouded in secrecy thereby still allowing gaping differentials between the sexes.
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