The gender gap for managers in the retail sector is 19.4%, meaning female colleagues earn an average of £4,315 less per year than their male colleagues, a new study suggests.
The percentage is, however, considerably lower than the average gender pay gap across all UK industries – currently 26.8% - according to research conducted by the Chartered Management Institute (CMI).
The report, compiled by XpertHR, comes six months after the government introduced new reporting regulations, forcing large employers to disclose their gender pay gap. The study also revealed that just 80 out of 7,850 eligible employers have fulfilled their obligation.
While the average salary of a female manager stands at £17,937, for men it is £22,252. The figures include salary and bonuses, as well as perks such as car allowance and commission.
This is the first time that pay gap data, compiled by XpertHR, has been published taking into account the new rules. The report is based on the salary data of more than 118,000 managers over the past year.
CMI chief executive Ann Francke said: “Too many businesses are like ‘glass pyramids’ with women holding the majority of lower-paid junior roles and far fewer reaching the top. We now see those extra perks of senior management roles are creating a gender pay gap wider than previously understood. The picture is worst at the top, with male CEOs cashing-in bonuses six times larger than female counterparts’.
“Our data show we need the government’s gender pay gap reporting regulations more than ever before. Yet, less than 1% of companies have reported so far. Time for more companies to step up and put plans in place to fix this issue. It’s essential if UK companies are to survive and thrive in the post-Brexit world.”
The CMI report also revealed that women are far more likely to fill junior management positions than men (66% vs 34%). Even when women progress to more senior roles, the pay gap begins to widen. At director-level ,men earn an average of £175,673, with women earning £141,529.