Working women lose up to £330,000 in lifetime due to gender pay gap
FULL-TIME WORKING women lose as much as £330,000 throughout their life because of the gender pay gap, say new reports.
Across the board, women still earn at least 17% less than men and campaigners have revealed it will take at least 20 years for the gap to close.
Women who have climbed high up the career ladder are even worse off, with the pay gap for female boardroom members and directors widening to 26% last year.
According to figures compiled by the Institute of Directors, while male colleagues were paid an average salary of £70,657, some female directors in the service sector received £56,933 for doing the same job.
The Equality and Human Rights Commission blamed the government for not pushing enough to tackle pay inequality. Its deputy chairman Baroness Prosser said progress was moving at a ‘snail’s pace’.
She explained: ‘It will still take at least two decades to resolve this injustice. Women who work fulltime are cheated of around £330,000 over the course of their lifetime. This is blatant unfairness.’
Ms Prosser added: ‘This is not just about an extra pair of shoes for a night out. Nationwide, women are less able to save for a pension, leaving them poverty-stricken in old age.’