19 Aug 2014
Female bosses continue to earn up to 35% less than male counterparts, according to new figures from the Chartered Management Institute (CMI).
Four decades after the Equal Pay Act made it illegal for women to receive less-favourable pay, the average pay gap for between men and women aged 46 to 60 is £16,680 per year. Amongst company directors the difference is even bigger at £21,084.
Chief Executive of the CMI, Ann Francke, said: ‘This is about apathy and ignorance. Companies think it is not a problem for them, so they don’t do anything about it. Every company needs to conduct its own survey’.
Figures including men and women of all ages show the average salary of men is £39,461, and women £30,392.
Francke added: ‘This means women are earning only three-quarters (77% of what men in full-time comparable jobs earn. Yet the gap is far worse for women aged 40-plus’.
The National Management Salary Survey is published annually by the CMI and employment lawyers XpertHR. Their survey compares data from 68,000 respondents.