Women managers in the Westcountry are earning 26% less than their male counterparts, making the region one of the worst in the country for gender pay inequalities, a new survey has shown.
A Chartered Management Institute survey of more than 5,000 professional managers in the South West highlighted not only the ongoing gender pay gap between men and women but also further inequalities regarding bonuses.
The data, published by the CMI and salary specialists XpertHR, showed the current gender pay gap for the South West’s managers stands at £10,524, with the average salary recorded as £40,311 for men and £29,787 for women.
Nationally female managers are earning only 77% of what men in full-time comparable jobs earn – a gender pay gap of 23 percentage points.
Analysis of the National Management Salary Survey, which covers 68,000 professionals in the UK, shows the gap is widest between men and women aged between 45 and 60 and stands at £16,680 per year.
The gap is two-fold. Not only is there a salary gap in the South West, but there is also a persistent ‘bonus pay gap’.
The average bonus for a female managers in the South West stands at £12,357, while for male managers the average pay-out is £15,298.
Ann Francke, chief executive of CMI, said: “Lower levels of pay for women managers cannot be justified, yet our data shows the pay gap remains a reality for too many women in the South West.
“Women and men should be paid on the basis of their performance in their particular roles, but this is clearly not yet the case for far too many. We have to stamp out cultures that excuse this as the result of time out for motherhood and tackle gender bias in pay policies that put too much emphasis on time served.”
However, the figures for the next generation of female managers show some cause for optimism. Women’s annual pay awards have edged ahead of men’s in three of the five most junior job levels (an average of 2.4% compared to 2.3%).
The gap still exists for younger women but it is narrower than for their older, more senior colleagues, standing at 6% for those between the ages of 20 to 25, and 8% for those aged between 26 and 35, before leaping upwards for older women.
Figures show that labour turnover among managers for the last 12 months is at a record low, with striking differences compared to the height of the recession three years ago (4.8% compared to 20%). For the first time since 2006 slightly more men than women have been made redundant in the South West – 0.7% compared to 0.6%.
Ms Francke added: “With the economy looking healthier than ever, it’s the perfect time for employers in the South West to expand their talent pool by supporting more women to become senior managers and leaders.”