Female salaries are increasing at a slightly faster rate but a study in UK claimed it would take 98 years for women to catch up with men
A study has revealed that it will take almost a century for UK women mana
gers to be paid the same as their male counterparts, reports ANI. According to the report by the Chartered Management Institute ( CMI), female managers are now paid an average 31,895 pounds per year, compared with males earning 42,441 pounds for doing the same job.
The 10,546 pounds gender pay gap is an increase on the 10,000 pounds from the same study last year, despite womens salaries increased by 2.8 percent and mens 2.3 percent this year.
As a result, CMI said it would take 98 years to gain parity in terms of pay.
” This kind of bad management is damaging UK businesses and must be addressed,” BBC quoted the CMIs director of policy and research, Petra Wilton, as saying.
A study of almost 35,000 executives showed a gender gap of £ 10,546, around £ 500 more than last year, although at junior level women earned marginally more than men.
CMI director of policy and research Petra Wilton said: ” While CMI is delighted that junior female executives have caught up with males at the same level, this years salary survey demonstrates, yet again, that businesses are contributing to the persistent gender pay gap and alienating top female employees by continuing to pay men and women unequally.
This kind of bad management is damaging UK businesses and must be addressed.