Male bankers earn 40 per cent more than female bankers, survey reveals

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17th November 2015 15:11 - Financial Services

A recent Government survey had revealed that male bankers earn 40 per cent more than female bankers.Male bankers earn 40 per cent more than female bankers, survey reveals

The survey from the UK Commission from Employment and Skills (UKCES) discovered that women earn less than men in 90 per cent (or 9 in 10) of industries, although, the research revealed that the financial and insurance industry has the worst gender pay gap.

The energy sector and science and technology roles also were found to have significant pay gaps as well as an underrepresentation of women.

On the whole, the largest gender pay gaps were found in highly skilled roles, such as finance, insurance and banking. These were role in which women in senior positions suffer from a pay gap of 15 per cent. However, in sales and customer service and secretarial roles, women were found to be paid more equally to their male counterparts, at 3 per cent and 6 per cent respectively.

The UK Commission from Employment and Skills found that the largest gaps were found in skilled trades.

Gender pay gap for median fulltime hourly earnings (excluding overtime), by major occupation groups are as follows:

  • Skilled trades occupations – 24.6 per cent
  • Process, plant and machine operatives – 20.4 per cent
  • Managers, directors and senior officials – 15.9 per cent
  • Elementary occupations – 15.1 per cent
  • Associate professional and technical occupation – 10.6 per cent
  • Professional occupations – 10.6 per cent
  • All employees – 9.4 per cent
  • Caring, leisure and other service – 8.3 per cent
  • Administrative and secretarial occupations -6.2 per cent
  • Sales and customer service occupations – 3.1 per cent.

The research also found that on average, women were still earning 19.1 per cent per hour less than men in 2014.

Assistant Director of the UK Commission from Employment and Skills, Dr Vicki Belt, said of the research findings:

“This research brings home the bleak reality of gender inequality at work in the UK. In spite of women’s real achievements in education, the gender pay gap stubbornly remains.

“Our research shows that occupational segregation is a key factor at play here. Women are under-represented in a range of sectors and occupations that offer higher paying roles – for example fewer than 10 per cent of British engineers are female.”

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