Women directors earn a fifth less than men - and work more
Thursday 02 November 2006
Female company directors earn one-fifth less than their male colleagues for doing the same job despite working longer hours, research revealed yesterday.
The inequities of corporate life, exposed in a survey by the Institute of Directors, lie behind an initiative from the London Business School that seeks to promote women in the workplace.
Backed by Lehman Brothers, the US investment bank, the new LBS Centre for Women in Business has called on more than 100 of the world's biggest companies to draw up a blueprint to get more women into top jobs. Senior executives from companies including BP, BskyB and BT attended the launch.
Laura Tyson, LBS's dean, said companies "struggled to identify, recruit and retain" half of their potential talent pool. While 50 per cent of graduates are female, this drops to 30 per cent of middle management and 15 per cent of senior management.
The IOD survey showed that female executives earn on average £60,000 a year, against their male counterparts' £74,028. Those employed by private companies and in the voluntary sector fare the worst, earning 25 per cent less then men in the same roles.
Overall, the pay gap between women and men has narrowed to 19 per cent from 25 per cent last year, but women work longer for their cash, the survey of almost 4,000 jobs from 1,000 organisations showed. Female managing directors in medium and large companies work 51.25 hours per week, compared with a man's 50-hour week, while those in larger companies work a 57-hour week on average, two hours more than their male colleagues.
Miles Templeman, the IOD's director general, said that the decrease was "hardly grounds for celebration. Even those who break through the glass ceiling and reach board level will find there is another roof over their heads".
The IOD's snapshot of Britain's boardrooms found that on average pay went up by 3.2 per cent in the past 12 months, with London-based directors taking home one third more than their counterparts in Northern Ireland.
- 1 The truth about 'girl things': Three cheers for Heather Watson's honesty
- 2 Man who held up 'hire me' sign at Waterloo station returns a year later with 'I'm hiring' sign
- 3 UK weather: Snow to fall during coming week with sub-zero temperatures to last until early February
- 5 Men behaving badly: Urinating while standing, 'manspreading' and the gendering of selfishness
Man who held up 'hire me' sign at Waterloo station returns a year later with 'I'm hiring' sign
UK weather: Snow to fall during coming week with sub-zero temperatures to last until early February
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
Iraq invasion 2003: The bloody warnings six wise men gave to Tony Blair as he prepared to launch poorly planned campaign
Ellen DeGeneres leads Johnny Depp, Gwyneth Paltrow and Paul Bettany in revealing game of Never Have I Ever
Nigel Farage: NHS might have to be replaced by private health insurance
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
French court convicts three over homophobic tweets, in case hailed as a 'significant victory' by LGBT rights campaigners
British Muslim school children suffering a backlash of abuse following Paris attacks
George Galloway condemns 'racist, Islamophobic, hypocritical rag' Charlie Hebdo at freedom of speech rally
Islamic history is full of free thinkers - but recent attempts to suppress critical thought are verging on the absurd
iJobs Money & Business
Negotiable: Recruitment Genius: A Tax Assistant is required to join a leading ...
£16000 - £25000 per annum: Recruitment Genius: This is an exciting opportunity...
£45000 - £47000 per annum + bonus + benefits: Ashdown Group: Java Developer / ...
£35000 - £38000 per annum + Benefits: Ashdown Group: Marketing Manager - Marke...