Female Execs Progress Earlier but Paid Less than Male Colleagues
London, UK - July 27th, 2009: – Figures, released today by executive career service Experteer ( http://www.experteer.co.uk/ ), paint a stark picture of sexual equality in the UK executive jobs market. According to the research whilst women attain senior positions at a younger age they are far less likely to hold such positions than their male colleagues and are likely to be paid less.
The figures, compiled from Experteer’s UK database of 18,000 UK-based executive job seekers, show that there are ten times fewer female Managing Directors than there are male and they are paid on average a sixth less, missing out on a potential £13,000 a year each.
|Level||Female Ave. Age||Male Ave. Age||Age difference – Female to Male||Salary difference – Female to Male||Ratio – Female:Male|
|Executive||29||30||- 1.3 years||+ 2%||1:1|
|Specialist||34||39||- 4.5 years||- 4%||1:2|
|Senior Specialist||38||42||- 4.1 years||- 4%||1:3|
|Manager||38||41||- 3.2 years||- 8%||1:3|
|Senior Manager||41||44||- 2.5 years||- 10%||1:4|
|Business Unit Lead||42||46||- 3.9 years||- 8%||1:6|
|MD Mid Size Company||41||47||- 5.9 years||- 15%||1:10|
The research reveals that female executives can expect to hold senior roles at an earlier age than their male peers, between three and four years younger. However, only in their first executive post can women expect to be paid on a par with their male colleagues. Across all executive roles the UK pay gap average is seven per cent. This compares favourably to Experteer’s research across other Western European markets, such as Germany, France and Italy, where an overall average salary gap of 12% in favour of men exists.
Torsten Muth, Managing Director, Experteer.co.uk, said: “These figures raise some serious questions about sexual equality in the workplace. Whilst the UK is ahead of the rest of Europe, it is clear that talent is not the only factor in determining salaries and career progression.”
“Our research does suggest a brighter future, as today’s female executives become tomorrow’s managers there is hope that the situation will improve. However a generation on from the 1975 sex discrimination act there is still clearly a long way to go. ”
Across all industries female executives can on average expect to earn seven per cent less, yet secure senior positions three to four years earlier in their lives than male colleagues. The industry with the greatest age / wage gap is the media sector, here female execs are paid a massive 34% less, despite reaching top executive roles three years earlier. Other industries with significant disparity between the earning power of male and female executives include medicine (27% less), transport and tourism (17% less), finance (13% less), and surprisingly the public sector (four years younger / 11% less).
The list of industries where women earn more than their male colleagues is far smaller and the amounts involved are less significant. The IT sector is the most female friendly, with women paid two per cent more than men, and progressing to the top roles a year younger. Other sectors showing positive signs include; real estate (two per cent more), logistics (one per cent more), and retail (equal salaries).
Key industry job roles where sexual discrimination appears to peak include:
Public Sector – female executives are two to three years younger than their male counterparts, but are paid £10,000 less per year.
Retail – female managers are five years younger, but are paid over £7,500 less per year.
Finance – female senior managers are two years younger, but are paid almost £9,500 less per year.
IT – female specialists are five years younger, but are paid £6,000 less per year.
Medicine – female senior specialists are two years younger, but are paid over £10,000 less per year.
Media – female business unit leads are five years younger, but are paid over £10,000 less per year.
Consulting – female business unit leads are four years younger, but are paid £12,000 less per year.