Reports suggest that women face a 57 year wait before their take-home pay is equal to their male colleagues
Recent reports from the Chartered Management Institute claim that ‘women face a 57 year wait before their take-home pay is equal to their male colleagues’.
Thirty years after the equal pay act, and women are still getting paid less than men; resulting in a financial deficit that could add up to £250,000 over a lifetime. For example, for every £1 a man earns, women get 82p across all private and public sectors.
Petra Wilton, Chartered Management Institute spokesperson reveals that ‘girls born this year will face the possibility of working for around 40 years in the shadow of equal pay’.
In addition, men and women are still getting paid differently at work, despite the 40-year-old legislation. Studies show that female managers in Britain earn £10,000 a year less than men.
Moreover, it seems that no matter how high up women are in their job role they still earn less than men. A junior management level study found that women were paid at least £1,000 less a year.
The government confesses that on average women earn 15% less than men. Thus, not only do women bear the brunt of the recession and make up the vast majority of people working in the public sector, but they earn less too.
On a brighter note, there is still hope. Women’s salaries are increasing, with a 2.8% rise compared to the 2.3% for men. Women may always have to work harder in order to receive the same results as men in the workplace.