I just read a piece of research detailing how female CEO’s receive much smaller bonuses than their male counterparts. The article, written by Simon Caulkin in The Observer, details findings by the US Academy of Management whereby the researchers compared the pay of 96 matched pairs of men and women executive directors doing similar jobs at listed UK companies between 1998 and 2004. Of these directors, there was not just a 19 per cent gap in total pay (a median £257,000 for women and £316,000 for men), which was even larger than expected – but also far more striking disparities in bonus payments. Basically, women’s bonuses change very little however well or badly the company does. Men, on the other hand, are punished much more for poor performance but hugely more rewarded for good. There was a general perception that men were dynamic risk-takers and women were much more cautious in their decision-making. We as women would like to think there is a financial pay-off for reaching the top, but it seems that where there is even more room for "subjective bias" – in the awarding of bonuses, we still have a very long way to go!