New figures published today by the Chartered Management Institute and XpertHR show that UK businesses are still more than five decades away from paying men and women equally.
The 2010 National Management Salary Survey reveals that although women's salaries increased by 2.8 per cent over the last 12 months (compared to 2.3 per cent for men), women managers in the UK still earn £10,071 less than than male managers. At the current rate of progress, women face a 57 year wait before their take-home pay is equal to that of their male colleagues.
Although this year marks the 40th anniversary of the 1970 Equal Pay Act, data collected from 43,312 individuals in 197 organisations reveals that male pay outstrips female pay by as much as 24% at senior level. Even at junior level the gap still persists with male junior executives receiving £1,065 more than female executives.
The worst sectors are the IT and pharmaceutical industries where the pay gaps here run at £17,736 and £14,018 respectively.
As well as stark differences in pay, the research also reveals a contrast between male and female labour turnover rates, particularly with regard to redundancy. Over the last 12 months, 4.5 per cent of the female workforce experienced redundancy, compared to just three per cent of men.
