Will new government plans help close the gender gap?


David Cameron made an announcement on 14th July 2015 that the government plans to tackle the gender gap in salaries by encouraging more transparency in large companies. While the government's plansfor companies with more than 250 employees to publish their average pay female and female workers is a welcome step in the right direction, our stats actually show that the gap may actually be more pronounced in smaller companies. For example:


For retail managers, the gap for large companies stands at 11%, while for companies with less than 250 employees it is as much as 26%.


At VP level in investment banking, men receive bonuses 50% bigger than their female counterparts in smaller companies, but double the size in organisations with over 250 employees.


In consultancy, there appears to be no gender gap for senior consultants in large organisations but there is a 20% difference for companies with less than 250 employees.


The same is true for Legal Associates, with an equal salary in large firms but a 15% difference in firms with less than 250 employees.



Tables illustrating the salary gender gap for small and large companies in a selection of industries are shown below:


Retail: Managers

 

Women salary

Men salary

Gender gap

250+employees

£29,000

£32,000

11%

Lessthan 250 employees

£30,000

£36,000

26%


Investment Banking:VP

 

Women salary

Women bonus

Men salary

Men bonus

Gender Gap

250+employees

£86,000

£15,000

£100,000

£30,000

22%

Less than250 employees

£87,500

£20,000

£100,000

£30,000

17%


Consultancy: SeniorConsultants

 

Women salary

Men salary

Gender gap

250+employees

£50,000

£50,000

0%

Less than250 employees

£40,000

£50,000

20%


Legal: LegalAssociates

 

Women salary

Men salary

Pay gap

250+employees

£71,000

£71,000

0%

Less than250 employees

£46,000

£54,000

15%


If you want to find out where you stand you to make more informed decisions about your next career move, just submit your details to access your own personalised salary report now.

 

Emolument provides bonus and salary statistics based on data submitted directly by professionals like you. It is free, anonymous, and already a trusted tool for thousands of professionals worldwide. Are you paid enough? Click here to find out now.


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