Women resigning as pay still unequal
Women are receiving bigger pay rises than men but still earn less overall and are resigning as a result, the Chartered Management Institute (CMI) has revealed. The study of more than 22,000 managers found that average earnings for women rose 6.7% for women and 5.6% for men in the twelve months to January 2006, making the figures the highest movement in earnings for five years. The gap between male and female counterparts is even more pronounced at director level, with female earnings increasing by 9.2 per cent, against only 5.8 per cent for their male counterparts. However, the average earnings of female managers is still less than the male equivalent. The gender pay gap grows as individuals get older – a difference of £297 at the age of 25, to over £10,000 from age 50. Bonuses are playing an increasingly important part in overall ‘take home’ pay. 79% of employers gave bonus payments to staff in the 12 months to January 2006, and women were more frequent recipients. Almost three-quarters of female executives were rewarded with a bonus, compared to less than two-thirds of men. Yet despite this, women are more likely to resign. Female resignation rates stand at 5.7%, compared to 4% for men. The region with the highest female resignation rate is East Anglia and the manufacturing sector has the highest female resignation rate compared to any other industry.Jo Causon, director, marketing and corporate affairs at the Chartered Management Institute, says: “More than 30 years after Sex Discrimination legislation was introduced, some inroads appear to have been made in the workplace. However, inequalities are still evident in pay packets and promotion and unless employers address the issue they are in danger of seeing a continuation of the trend in senior female executive resignations.”
This was posted in Bdaily's Members' News section by Ruth Mitchell .
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