New figures show that UK businesses are still more than five decades away from paying men and women equally, according to a report published by the Chartered Management Institute.
The 2010 National Management Salary Survey shows that while female managers' salaries increased by 2.8 per cent over the last 12 months, compared to 2.3 per cent for men, the average UK salary for a male manager is currently ?10,071 more than that of a female manager. So it seems that women face a 57 year wait before their take-home pay is equal to that of their male colleagues.
Although this year marks the 40th anniversary of the 1970 Equal Pay Act, data collected from 43,312 individuals in 197 organisations reveals that male pay outstrips female pay by as much as 24% at senior level.
Even at junior level the gap still persists with male junior executives receiving ?1,065 more than female executives. Across the regions, women in the Midlands fare the worst, taking home ?10,434 less while those in the North East fare the best, where the gap is smallest at ?8,955.
Looking at different industry sectors, female executives would do well to bear in mind when accepting roles in either IT or the pharmaceutical industry that the pay gaps here are higher than any other sectors, at an extraordinary ?17,736 and ?14,018 respectively.
Responding to the report, CMI's Head of Policy, Petra Wilton, said: 'Girls born this year will face the probability of working for around 40 years in the shadow of unequal pay. The prospect of continued decades of pay inequality cannot be allowed to become reality. We want to see Government take greater steps to enforce pay equality by monitoring organisations more closely and naming and shaming those who fail to pay male and female staff fairly.'
