Women Receive Up to 80% Less in Bonus Schemes

Money in hand New research into the finance sector from the Equality and Human Rights Commission indicated that women in leading financial companies are facing as much as an 80 per cent gender pay gap when it comes to annual bonuses. And its not just in the bonus schemes that women lose out, nearly all women taking up the latest City jobs can expect to start work on less than their male equivalents. Overall, a basic pay gender gap of 39 per cent was revealed through the research, while women received far less in terms of performance-related pay. Trevor Phillips, chair of the commission said: "For business to thrive in the new economy it simply can't afford to recruit and reward in the way it has done in the past. By bringing down arbitrary barriers, and changing practices that, intentionally or not, inhibit women's success, financial firms have the chance to boost morale, bring on new talent, and maximise the potential of their existing employees." It would seem that the suspicions of many of my female coaching clients, that their male colleagues enjoy much larger bonuses, is right on the money – to pardon the pun! 

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