{"id":285,"date":"2009-04-09T15:55:55","date_gmt":"2009-04-09T15:55:55","guid":{"rendered":"http:\/\/www.the-finance-zone.co.uk\/?p=285"},"modified":"2009-04-09T15:55:55","modified_gmt":"2009-04-09T15:55:55","slug":"city-glass-ceiling-impenetrable","status":"publish","type":"post","link":"https:\/\/the-finance-zone.co.uk\/index.php\/2009\/04\/09\/city-glass-ceiling-impenetrable\/","title":{"rendered":"City glass ceiling ‘impenetrable’"},"content":{"rendered":"

Women earn up to 60% less than men in the finance sector, an Equality and Human Rights Commission report says.<\/strong><\/p>\n

The research indicates that although numbers of men and women in the sector are equal, the pay gap is more than twice the national average.<\/p>\n

The study also points to a 79% gender gap for annual incentive pay for full-time workers.<\/p>\n

The TUC says the figures are evidence that the City is failing to shed its “impenetrable” glass ceiling.<\/p>\n

Women working in the fund management, stockbroking and future trading areas suffer the largest pay gap, the commission says.<\/p>\n

Seventy per cent of men in the financial sector as a whole earned more than \u00a329,400 in 2007\/8, while 70% of women earned less than \u00a329,500.<\/p>\n

The report is the first stage of the commission’s inquiry into pay rates in the finance sector.<\/p>\n

It found that 28% of those working in professional occupations in the sector are women, compared with 42% in the economy as a whole<\/p>\n

It also found that 11% of senior managers are women, compared to 28% in the economy as a whole.<\/p>\n

Missing out<\/strong><\/p>\n

Trevor Phillips, who chairs the commission, thinks the industry is missing out on women’s valuable input.<\/p>\n

“We are losing or not taking advantage of talented women from a crucial industry – something we can ill afford in these troubled times,” he said.<\/p>\n

“There is a culture which somehow assumes that women will take the lowest status jobs and that’s where they belong.”<\/p>\n

Employers may be “tempted to take their foot off the gas when it comes to tackling inequality”, he continued.<\/p>\n

He also insisted that the commission would investigate what measures could be taken to address the obstacles faced by women in finance.<\/p>\n","protected":false},"excerpt":{"rendered":"

Women earn up to 60% less than men in the finance sector, an Equality and Human Rights Commission report says.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","footnotes":""},"categories":[7],"tags":[],"class_list":["post-285","post","type-post","status-publish","format-standard","hentry","category-cities"],"_links":{"self":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/285","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=285"}],"version-history":[{"count":0,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/285\/revisions"}],"wp:attachment":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=285"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=285"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=285"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}