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Female managers are paid less than their male peers, according to a new study.
Research published by the Chartered Management Institute (CMI) has revealed that senior female management over the age of 40, are paid 35 per cent less than men in comparable jobs.
Indeed, the higher up the career ladder a woman is, the more significant the pay gap. The report also showed that women in their 60s are paid 38 per cent less than men. The research was published as part of CMI’s Annual National Management Salary Survey, which shows that the pay gap widens as women get older.
The report was presented by Anne Francke, CMI chief executive, last week to the select committee on gender equality.
Speaking about the findings, she said: “Anyone who thinks they’ve abolished the glass ceiling just by hitting Lord Davies’ targets is misguided. Equality and fair progression means much more than having the same number of men and women on boards.
“Female managers face what I believe is a ‘glass pyramid’. The walls close in with every step up, and women are likely to slip down the pecking order when it comes to pay.”
Younger women between the ages of 26 to 35 experience smaller pay gaps of six per cent. Although smaller, it is still nonetheless significant. In addition, women between the ages of 36 to 45 experience pay gaps of 20 per cent. Altogether, the study showed that the pay gap in management stands at £8,524 – with women earning an average of £30,612 compared to the £39,136 that men earn.
For director-level women, the pay gap widens to £14,943. These women earn £123,756 on average, compared to their male counterparts who earn £138,699.