Study also finds women get smaller bonuses and are more vulnerable to job cuts
Women may be climbing the job ranks, but new findings reveal that female executives earn almost £500,000 less than men over their lifetime.
The new research, carried out by the Chartered Management Institute (CMI), also affirms that women receive bonuses worth less than half those of their male counterparts, and that more women fall victim to job cuts than men.
'A lot of businesses have been focused on getting more women on boards' said CMI chief executive Ann Francke.
'We’ve still got a lot to do on equal pay and equal representation in top executive roles', she added.
The gender pay gap, which remains largely unchanged from last year, is thought to be due to the fact that workplace inequality is still 'rife.'
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HR consulting partner at PricewaterhouseCoopers, Dawn Nicholson, told the Daily Telegraph that 'it is time for businesses to really challenge and question these accepted norms and create new ways of assessing and rewarding success.'
Are you surprised by the findings? What should the government be doing to ensure equal pay? Let us know in the comments below.
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