Research released recently by the Chartered Management Institute and XpertHR reveals that men are more likely than women to have been promoted into senior and higher paying management roles in the past year, with no progress made on reducing the 23% gender pay gap. Male managers are 40% more likely than female managers to be promoted into higher roles, new data reveals.
In the retail and wholesale sector alone, the gender pay gap stands at 14.3%, representing a £4,523 difference between genders. In November 2015, the Government announced plans for new legislation to tackle the gender pay gap, including making it compulsory for large companies to report on how much they pay their male and female staff. The regulations are due to come into effect in April 2017.
Mark Crail, content director at XpertHR, commented: “The gender pay gap is not primarily about men and women being paid differently for doing the same job. It’s much more about men being present in greater numbers than women the higher up the organisation you go. Our research shows that this gap begins to open up at relatively junior levels and widens – primarily because men are more likely to be promoted.”
Men’s pay further outstrips that of women’s because of a ‘bonus gap’. In the past year, 43% of men received an annual bonus compared to 36% of women. The average men’s bonus stands at £5,398 compared to women’s £2,764, equating to a 49% gap. The bonus gap in the retail and wholesale sector outstrips this national average, standing at 56.5%.