As part of a formal inquiry into sex discrimination in the finance sector, the Equality and Human Rights Commission has just published a preliminary report that revealed pay gaps of up to 60 per cent.
The findings showed an hourly gap of 45 per cent for high earning women working full time, while women working full time in the lowest paid roles received
on average 16 per cent less than men.
Women working full time in areas including fund management, stock broking and futures trading had the biggest pay gap, earning on average 60 per cent less annual gross salary than men - more than twice the national average. The report showed that 70 per cent of men earned more than £29,400 in 2007/8, while 70 per cent of women earned less than £29,500.
The report also found a staggering 79 per cent gender pay gap for annual incentive pay (which includes bonuses) for full-time workers in finance.
This report is the result of preliminary data analysis providing the Commission with evidence of the potential issues faced by women in the sector, and is being used to help draw up the terms of reference of its formal inquiry.
The Commission will publish its final report later this year.
To read the report, go to: http://www.equalityhumanrights.com