Gender Pay Gap: Female Manager’s Bonuses 50% less than Men
Over the last year research has shown that female manager earned bonuses approximately half the size of their male counterparts, according to the Chartered Management Institute, aggravating the gender pay gap.
The CMI claims that the gender pay gap is being aggravated by the bonus gap and that attention should be paid to commission and bonuses when comparing men and women, not just the basic salary.
According to the research, male managers were paid an average of £6,442 bonus in 2012 compared to £3,029 for women. This is in addition to the basis salaries for male managers being some 25% higher than women as well.
The study of 43,000 managers in the UK found that the gap in pay and bonuses are even bigger at senior levels of management, with female directors paid an average bonus of £36,270 as opposed to £63,700 for men.
Commenting on the report, Anne Francke, Chief Executive of the CMI said “Women are the majority of the workforce at entry level but still lose out on top positions and top pay. The time has come to tackle this situation more systemically. If organisations don’t tap into and develop their female talent right through to the highest levels, they will miss out on growth, employee engagement, and more ethical management cultures.”
Yvette Cooper, Shadow Minister for Women and Equalities commented “It’s disgraceful that the corporate gender pay-gap seems to be getting wider rather than narrowing. Women executives already only get ¾ of the pay of male executives in similar jobs and now this research shows women managers are only getting half the bonuses too.”