Pay gap decline 'caused by male wage stagnation'
Male pay has declined faster than that of women, a new study shows.
There has been abundant evidence that the pay gap between men and women has shrunk in recent years, with the occasional blip in the other direction. However, that has usually been due to female remuneration increasing.
While that may be good news for women working in the finance sector and elsewhere, a new study has suggested a major contributory factor in recent years has been that men have seen a greater stagnation in pay than women.
This conclusion was reached by the Institute for Fiscal Studies after studying data produced by the Office for National Statistics on pay rates in 2014, based on income tax returns.
It found that overall, median hourly pay rates have fallen 4.7 per cent since the recession began in 2008, once Retail Prices Index inflation is taken into account.
However, this has been divided unevenly on a gender basis, with women seeing pay decline 2.5 per cent in real terms, whereas men have endured a 7.3 per cent drop. One reason for this is that a larger proportion of women work in the public sector, where pay rates have held up better than the private sector.
Of course, this was not the only demographic variable. Those in the top ten per cent for income suffered nearly twice as large a fall in pay as the bottom ten per cent, while younger workers suffered far more than average, the 22-29 age range (the youngest eligible for the full national minimum wage) saw a nine per cent fall, while those over 60 have recovered the real terms level of pay they enjoyed in 2008.
For women seeking better-paid jobs, the pressure to push for higher salaries in their own work may therefore be less than it is for men. However, given the fact that the imbalance of public or private sector staff has skewed the gender pay differences, those in the finance sector may have similar levels of motivation to seek to improve their pay packets.
Signup to receive the latest discipline specific articles
Related jobs
Salary:
£340 - £440 per day
Location:
City of London, London
Industry
Technology
Qualification
None specified
Market
Commerce & Industry
Salary
£350 - £450
Job Discipline
Data Protection & Privacy
Contract Type:
Contract
Description
SAS Engineer
Reference
BBBH183803
Expiry Date
01/01/01
Author
Ghazal MayahiAuthor
Ghazal MayahiSalary:
£45,000 - £55,000 per annum
Location:
City of London, London
Industry
Professional Services
Qualification
Part qualified
Market
Professional Services
Salary
£50,000 - £60,000
Job Discipline
Part Qualified & Transactional Finance
Contract Type:
Contract
Description
Seeking a Legal Biller/Revenue Controller for a 6-month fixed term contract within a law firm based in Central London.
Reference
BBBH183824
Expiry Date
01/01/01
Author
Jamie SmithAuthor
Jamie SmithSalary:
£55,000 - £69,000 per annum
Location:
Manchester, Greater Manchester
Industry
Business Services
Qualification
None specified
Market
Financial Services
Salary
£60,000 - £70,000
Job Discipline
Tax
Contract Type:
Permanent
Description
.
Reference
BBBH182563
Expiry Date
01/01/01
Author
Aleksandra TaranovskajaAuthor
Aleksandra TaranovskajaSalary:
£45,000 - £55,000 per annum
Location:
London
Industry
Professional Services
Qualification
Part qualified
Market
Commerce & Industry
Salary
£50,000 - £60,000
Job Discipline
Part Qualified & Transactional Finance
Contract Type:
Contract
Description
Seeking a Legal Biller for a fixed term contract within a law firm based in Central London.
Reference
JSM17475
Expiry Date
01/01/01
Author
Jamie SmithAuthor
Jamie SmithSalary:
£37,000 - £45,000 per annum
Location:
City of London, London
Industry
Transport & Logistics
Qualification
Part qualified
Market
Commerce & Industry
Salary
£40,000 - £50,000
Job Discipline
Part Qualified & Transactional Finance
Contract Type:
Contract
Description
A part-qualified Management Accountant is needed on a temp to perm basis in Central London
Reference
BBBH183816
Expiry Date
01/01/01
Author
Chelsea MillsAuthor
Chelsea MillsSalary:
Negotiable
Location:
Chester, Cheshire
Industry
Healthcare
Qualification
Part qualified
Market
Commerce & Industry
Salary
£40,000 - £50,000
Job Discipline
Qualified Finance
Contract Type:
Permanent
Description
A fantastic opportunity for a market leading company based in Chester.
Reference
BBBH183818
Expiry Date
01/01/01
Author
Logan HolroydAuthor
Logan HolroydSalary:
£27,000 - £30,000 per annum
Location:
Crewe, Cheshire
Industry
Business Services
Qualification
None specified
Market
Commerce & Industry
Salary
£30,000 - £35,000
Job Discipline
Part Qualified & Transactional Finance
Contract Type:
Permanent
Description
Credit Controller
Reference
BBBH183413
Expiry Date
01/01/01
Author
Glenn FyfeAuthor
Glenn FyfeSalary:
Equity, Bonus and Benefits
Location:
London
Industry
Healthcare
Qualification
Fully qualified
Market
Executive Search
Salary
£125,000 - £175,000
Job Discipline
Private Equity Executive Search
Contract Type:
Permanent
Description
Marks Sattin Executive Search is partnering with a dynamic, PE-backed Multisite Healthcare Services business to recruit a CFO.
Reference
TA3411
Expiry Date
01/01/01
Author
Executive SearchAuthor
Executive SearchSalary:
£800 - £900 per day
Location:
London
Industry
Investment Banking & Capital Markets
Qualification
Fully qualified
Market
Financial Services
Salary
£350 - £450
Job Discipline
Qualified Finance
Contract Type:
Permanent
Description
A Regulatory Reporting programme has been stood up to review and enhance the controls over priority HINV Regulatory Reports.
Reference
BBBH183810
Expiry Date
01/01/01
Author
Andrew BarnesAuthor
Andrew BarnesSalary:
£130,000 - £150,000 per annum + Equity, Bonus and Benefits
Location:
England
Industry
Private Equity
Qualification
Fully qualified
Market
Executive Search
Salary
£125,000 - £175,000
Job Discipline
Private Equity Executive Search
Contract Type:
Permanent
Description
Marks Sattin Executive Search is partnering with a dynamic, PE-backed consumer facing business to identify a high-calibre Finance Director.
Reference
TA 3410
Expiry Date
01/01/01
Author
Executive SearchAuthor
Executive Search