Women’s pay lagging behind men’s by 43%

BRITISH finance union Amicus has vowed to work with the major financial services companies and Britain’s Equal Opportunities Commission to tackle the gender pay gap in the finance sector.

Amicus say that although gender pay disparity is an issue in every industry it is much more serious in the finance sector with women’s pay falling behind men’s by a staggering 43%. This is far higher then the 18% gap across the workforce.

One of the main factors to the pay gap being so much larger in the finance sector is due to the so called “glass ceiling effect”. Women are able to progress to a certain grade but do not seem able to progress past it. Women make up 50% of the workforce in Britain’s finance sector, but only 6% of them progress to director level.