New research suggests that it will take 187 years for women’s pay to exceed men’s. The findings are drawn from a survey of over 40,000 individuals that looked at the current levels and increases in pay for both genders.
Carried out by the Chartered Management Institute, the report discovers a higher rate of redundancies, resignations and job transfers in the female work force. While women’s wage increases have risen more than men’s in the last year, female executives still receive on average £13,655 less in annual income than their male peers.
Current levels of pay increases lead to the Institute’s forecast that ‘it will not be until 2195 before female pay outstrips men.’ According to the findings, female directors will be the last to achieve parity, particularly within the IT sector and with those residing in Scotland. But the research also discloses that in the energy sector, junior executives are ‘bucking the trend’ leading to a prediction that women in this line of work will gain pay equality as early as 2010.
Jo Causon, a Director at the Institute, comments: ‘At least with a glass ceiling it is possible to see through to the next level. However, when it comes to equal pay, it seems that the glass is now opaque.’ She adds: ‘It is time that the lip service of the 3 decades since sex discrimination was first outlawed is transformed into action.’
By Camille Herreman