Women working in UK financial services earned on average 20% less than men in 2012, according to eFinancialCareers.
When controlling for years of experience, education levels and specific occupations, women finance professionals’ base salary was on average £14,800 lower than men’s, almost exactly the same difference as last year.
James Bennett, Global Managing Director of eFinancialCareers comments: 'We would all like to think that the gender pay gap in financial services is narrowing. But male-female income disparity seems to persist, and it is disappointing to see that no progress has been made'.
Interestingly, this does not seem to bear an impact on the level of satisfaction with salary. Overall, 43% of women declared themselves satisfied with their base salary, slightly more than men (40%).
Women’s intention to change firms this year is as high as men’s, 42% vs 40%. While better career opportunities are the main motivation for going elsewhere for both sexes, women appear more frustrated than men with the lack of recognition for accomplishments (21% vs 16%).