Bonus payout for male managers double that of women's as pay gap widens

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Male U.K. company managers earned average bonuses over the past year that were twice as big as their female counterparts, according to the Chartered Management Institute.

Bloomberg News reports that the average bonus for men of $10,100 compared with $4,740 for women, the institute and XpertHR said in a report published in London today.

That’s on top of salaries that are 25% higher for men, according to the CMI. The pay gap is also a factor at director level, with the average $100,000 bonus for men exceeding the $56,750 paid to women.

Data earlier this year showed the number of directorships held by women at the 100 largest U.K. companies is 17.3%, short of a target of 25% by 2015 recommended in a government-commissioned report. The issue of gender inequality has also hit the Bank of England, with Governor Mark Carney saying this month it’s 'striking' that the central bank has no female policy makers.

The CMI also said that at both management and director levels, men are more likely than women to receive a bonus. For directors, 52% of men took home a bonus in the past year, compared with 42% of women.

'The playing field is far from equal,' Culture Secretary Maria Miller, whose remit includes responsibility for equality, said in a statement. 'These figures are yet another damaging example highlighting that, in the world of work, women still lose out to their male counterparts.'

To access the complete Bloomberg article hit the link below.

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