Connect with us


Four Things to Learn From Gender Pay Gap Figures

Even in 2019, unequal pay based on gender is still topical and still a very real problem. Take the corporate world, for example, the gender pay gap numbers revealed by the biggest companies across the UK showed that in most of them men take home significantly greater salaries as compared to their female counterparts.

Hope is on the horizon

Roughly 13 per cent companies give women better remuneration than men on an average. Whilst 7 percent have proudly declared that a pay gap between genders doesn’t exist at their organizations.

Scrutiny of the gender pay gap figures shows us:                             

  1. UK’s national median pay gap

The UK’s national median pay gap is based on the concept of when you arrange all the women and men working at a firm in two distinct lines, in order of the salary they draw, the median pay gap will be the salary difference between the man and the woman in the middle of their respective lines. It is based on an hourly system and is inclusive of people who work full-time, as well as part-time. With 78 percent of companies paying men more than women, the UK has a national median pay gap of 18.4 per cent.

  1. The extent of the pay gap varies from industry to industry

According to the Office for National Statistics 2017 Annual Survey of Hours and Earnings (ASHE), the finance and insurance sector observed the highest gender pay gap among all. And only three industries in the UK pay their female employees more than their male counterparts. These three sectors are; mining, household, and, water and waste management.

  1. Gender pay gap has hit the finance sector the hardest

The finance sector that has the highest pay gap. Digging deeper, on an average, women in this particular sector earn 35.6 percent less than men. Simply put, in the finance sector women are paid only 64p for every £1 that men earn.

Out of the 279 finance organizations that released their pay gap data, only eight of them have a gender pay gap to the advantage of women instead of men.

  1. UK’s gender pay gap is higher than the OECD median

UK’s gender pay gap exceeds the Organisation for Economic Co-operation and Development (OECD) average. Though it is not the worst among OECD countries — it is actually South Korea that has the biggest gap. The honours for the lowest gap are claimed by Belgium.

Interestingly, another OECD country, France, is getting serious about taking on the issue of gender pay gap. Last year, the French government proposed a bill that will levy fines on companies that fail to address unfair pay gaps. But the world still has a long way to go before the gap is closed. If you are a woman and you think that you are being paid less than your male counterpart seek advice from an employment lawyer.

Continue Reading

Recent Posts

Home Improvement3 weeks ago

How To Add More Value To Your Home

If you have some spare cash in the bank, it is likely you would like to spend it on your...

Lifestyle3 weeks ago

What is a Deep Plane Facelift

Cosmetic surgery is a choice that needs a lot of research and when it comes to thinking about a facelift...

Entrepreneur3 weeks ago

Unveiling the Demand for Digital Marketing Courses: A Comprehensive Analysis

In recent years, the realm of marketing has undergone a seismic shift propelled by the digital revolution. As businesses increasingly...

Home Improvement1 month ago

What Does an Effective Wardrobe Spring Clean Entail?

Spring is upon us which means one thing and one thing only. It is time for the annual purge of...

Business3 months ago

Your Basic Guide To Creating A Unique Investment Blog

Starting your own blog is great and once you get the ball rolling, it can be a good passive income...

Business3 months ago

3 Low-Risk Ways To Get Your New Business Started

Once you’ve got an initial business idea and believe that it will be a success, there are some basic things...

Lifestyle3 months ago

Conquering the Co-free Zone: Tips for Thriving as a Remote Worker

Adjusting to an office environment can come with its downfalls in the sense that it might be a shock to...

General4 months ago

3 Ways To Take Control Of Your Finances Starting Now

If your finances have taken over and are bringing stress to your life, we understand just how overwhelming it can...

Travel6 months ago

Best Places To Visit In The North Of England

If you live in England, you will know there are many different places to visit for the weekend. There are...

General6 months ago

Green Home Improvement Ideas

In a world where environmental concerns are growing, the concept of “green” has gone beyond a trendy catchphrase and is...

Lifestyle6 months ago

How to Host an Unforgettable House-Warming!

The time has finally come. You have moved into your dream pad, and are officially adulting in your very own...

Autos6 months ago

A Guide to Parking Lot Striping

The journey to a well-striped parking lot begins with the right paint. In this brief guide, we’ll unravel the mystery...

Business9 months ago

Business Tips For Protecting Your Finances During A Recession

In 2023, taking the necessary steps to protect your finances for your business is now more important than ever. The...

Lifestyle9 months ago

Tips For Cleaning Your Trainers

If you’re into your trainers and streetwear, you’re likely to be very conscious of keeping them looking their best! So,...

Marketing10 months ago

Branding Trends For Start-Ups in 2023

Branding is incredibly important as it impacts how your business reaches and connects with its target market. If you’re branding...