Gender pay gap widens: 80 per cent UK employers pay men more than women
Pay transparency and the gender pay gap have come into sharper focus in recent times
A Financial Times analysis has revealed that almost 80 per cent of employers in the UK pay men more than women on average in their organisations. It added that the percentage figure had worsened since the mandatory gender pay gap reporting began six years ago.
"The data showed that 79.5 per cent of employers had a gender pay gap that favoured men in 2022-23, higher than the figures collected both last year and six years ago," the publication noted.
The average gap between men's and women's pay stood at 12.2 per cent in 2022-23 which was an uptick from the 11.9 per cent noted in 2017-18.
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The stubborn inequality persists across different sectors. The pay gap increased in transport and administration last year and remained highest among employers in education. The average pay gap in the sector stood at a whopping 23.2 per cent.
The finance sector did not fare any better as the average pay gap stood at 22.7 per cent in 2022-23. Lloyds Banking Group and NatWest Group were the biggest culprits as the pay disparity stood at 34.8 per cent and 31.6 per cent respectively.
“There are comparatively more women in junior roles, and more men in higher-paid leadership roles . . . this is the main source of the overall pay gap, as the lower number of senior women brings down the average pay for these colleagues,” Lloyds said attempting to rationalise the findings.
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According to a UN report, for every dollar that a man makes across the world, a woman only makes 77 cents due to the growing pay disparity between the two genders.
Despite the best efforts of fair-pay campaigners and business groups, the pay disparity figures suggest that the battle is far from won. Organisations may be batting for gender equality in the workplace but they have done, not nearly enough, when it comes to taking action on the gender pay gap.
(With inputs from agencies)
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