It’s old hat now that women are paid less than men, even if they’re at the very top of their industry. The latest confirmation comes from data in the UK showing that women in senior management or at director level in the country earn 11% less than their male counterparts, and are awarded with slightly more than half the average bonus given to men each year. The Chartered Management Institute, an industry group for managers, commissioned a survey of 72,000 UK managers in a broad set of public and private sector companies of various sizes, to compile the 2015 data.
The pay disparity between men and women is even bigger further down the corporate food chain. The average pay gap across all the survey respondents, which included positions ranging from junior executives to directors, was 22%, meaning women were paid an average of £8,524 ($13,374) less each per year.
“Having more women in senior executive roles will pave the way for others and ensure they’re paid the same as their male colleagues at every stage of their careers,” said Ann Francke, the CMI’s chief executive in a press release that accompanied the findings.
That will require more work. Women in the UK continue to outnumber men in junior management, the survey found, making up 67% of that cohort. But by the time they hit senior management their representation drops to 43%.
A UK government-backed report in March found that the number of women holding board positions in FTSE 100 companies was just shy of the country’s 2015 target of 25%, a goal set in 2011 by the previous government when the proportion was closer to 12%. Of those companies’ board seats, 23.5% are currently held by women.
So far, the UK hasn’t instituted specific policies to promote its goal. For countries like Germany and Norway, imposing quotas on companies has helped boost the proportion of women on corporate boards.
By Cassie Werber
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Since the last iteration of this list, a global pandemic and numerous social justice movements have rocked the U.S. Of the thousands of companies considered for the ranking, 60% are proactively sharing on their websites what they’re doing to promote diversity, up from 46% this time last year. Additionally, 28% now have a senior leader whose sole responsibility is DEI, up from 18% in 2020.
The need to promote diversity, equality and inclusion (DEI) goals in the chemicals industry remains a pivotal challenge for the sector. This was brought into focus at the European Petrochemical Association’s (EPCA) 55th annual event, in a virtual roundtable discussion.