Women in the City Earn Less than Half of Male Colleagues

Pay difference Women working in the City of London are paid up to 60 per cent less than

their male counterparts, new research has revealed. A recent study by the Equality and Human Right Commission (EHRC) found that more senior women are paid an average of 45 per cent less than men per hour while the hourly earnings of junior female staff is 16 per cent lower than those of men. It also found that although the proportion of career women is similar to men in the financial sector, the representation of women at higher levels of management is lower than men.  Trevor Phillips, chair of the commission, said: "The figures we're releasing today are shocking and indicate just how serious the pay gap has become in the financial sector, with women concentrated in lower paid, lower skilled roles and few able to make it to the top. He continued "The truth is that however you look at the numbers, women do not have equal status or equal rewards. Nobody wants this kind of unfairness, including the businesses themselves. We are losing or not taking advantage of talented women from a crucial industry – something we can ill afford in these troubled times." I think it is time to stop "business as usual" – as we can all see, paying male leadership so much more certainly hasn't led to stellar leadership or a fair and just economy. 

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