CMI comments on Equal Pay Day
- Equal Pay Day falls earlier in the year the higher up the ranks you go
- Gender pay gap is 27% for managers
2017’s Equal Pay Day falls on 10 November, the date from which women effectively work for free for the rest of the calendar year.
Ann Francke, chief executive of the Chartered Management Institute, said:
Equal Pay Day for all women is 10 November, but falls earlier in the year the higher up the career ladder you go. According to CMI’s research, there’s a 27% gender pay gap among the UK’s 3.3m managers, where men outnumber women three to one. The lack of progress for women into more senior roles is one of the biggest causes of this pay gap. There’s a huge prize for businesses that get this right, because equal representation of men and women could add £150bn to the UK economy in the next 10 years.
Transparency is a great driver for change. We urge the 98% of businesses that have yet to publish their pay gap data under the new government regulations to step up and put plans in place to fix the issue.
For more information on the gender pay gap and the government reporting regulations, visit: www.managers.org.uk/mindthepaygap
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