Blog

30 May 2017
Biggest earners with smaller pay gap

Following on from our blog about the gap in gender pay, here we shed light on which industries have less of a gender pay gap. The latest research suggests that around 80% of UK industries are guilty of not paying male and female staff equally. The regulation for all firms with over 250 employees to publish annual figures on their salaries and bonuses is the next step in tackling the issue of gender pay. However, a recent report by The Financial Times found that only five UK employers have published the details of their gender pay gap on a Government website.

What this will show us:

  • The difference in average earnings between men and women
  • The difference in average bonus payments between men and women
  • The proportion of men and women in each pay quartile
  • Whether a company complies with the regulation and how it compares to other companies

Justine Greening, the Minister for Women and Equalities spoke about the gender pay gap in a statement: “Britain has the lowest gender pay gap on record, there are more women in work than ever before, more women-led businesses than ever before and there are now women on every board in the FTSE 100,” she said.

“But if we are to help women to reach their potential and eliminate the gender pay gap, we need to shine a light on our workplaces to see where there is more to do to. This tool will empower both men and women to challenge this issue in their profession and help people to make more informed decisions about their career.”

Below you will see the recent findings that identify if the pay gap is less than or more than men. One noticeable industry is HR. Despite being a dominantly female industry, men get paid 8.7% more.

See below the top 10 highest paid industries, with the lowest gender wage gaps in the UK, as collated by Savoy Stewart are:

gender pay gap

Maria Miller, Chair of the Women and Equalities Committee and MP for Basingstoke, believes that gender pay gap reporting isn’t enough to close the gap. She says: “Without effectively tackling the key issues of flexible working, sharing unpaid caring responsibilities, and supporting women aged over 40 back into the workforce, the gender pay gap will not be eliminated.”

Releasing gender pay gap is important. The Chartered Management Institute (CMI) calls it “unprecedented transparency”. For the first time, more than 9,000 companies employing about 15m people will have to measure and report, how they pay men and women affecting nearly half the workforce in the UK. Unequal pay for men and women doing the same job has been illegal for 40 years but overall the gender gap in the UK still stands at 18%.

 

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