The data released this week produced stunning results, with banks, airlines, retailers and British soccer clubs reporting significant differences in the mean salaries between men and women.
Even with legislation in place for nearly a year, companies were slow to publish their data with more than 1,000 firms reporting in the last 24 hours. At the bottom of the pile is The Telegraph with a mean pay gap of 35% and a median pay gap of 23.4%.
Meanwhile, the Chair of Common Front, Aylse Stewart says women account for 60 per cent of Canada Student Loan recipients. Goldman Sachs Group Inc. pays its female staff on average 56 percent less than men at the bank, while Lloyds Banking Group Plc pays women about a third less than men.
The gender pay gap is the difference between the average hourly earnings of men and women. Just 8% said they had no gender pay gap at all, based on the median measure. Women’s median hourly pay was 20.4% lower.
It comes after ITN was revealed to have the highest bonus pay gap between men and women of any United Kingdom news media organisation, with a mean gap of 77.2 per cent and a median gap of 50 per cent.
What are the consequences of not publishing your findings?
“We’re looking at approximately 1,500 companies which haven’t reported”, she told the BBC. “So the idea of putting men and women together is actually a very positive dynamic”.
However, Ritchie Allan told CommonSpace that this view fails to understand the underlying inequalities involved in these trends.
The numbers show that many companies have pay gaps within excess of 30 percent.
“We recognise the benefits of having more women in senior roles”.
The difference is even wider among institutions that are focused on investment banking.
The figures also highlight which industries pay women less on average.
A spokeswoman said: “It is important to us that ENO is an inclusive company at which to work, and we are pleased that this is reflected in our Gender Pay Gap Report”. The data shows women are underrepresented in top-paid jobs, when compared to the business as a whole, in 82% of companies.
Marie Stopes International had a median pay gap of 36.8 per cent, and a mean gender pay gap of 45.2 per cent.
In other cases, a change in the pay culture has been pushed from the outside. The report caused an outcry that has led to parliamentary hearings. Participation in this initiative is mandatory for companies with more than 250 employees, and those who don’t declare this information risk paying particularly high fines, and as such several studios have offered data. The data could provide fodder for existing or future lawsuits under the U.K.’s 2010 Equality Act, which codified earlier laws.
In total, eight firms claimed to pay men and women equally. But those figures are still likely to underestimate the real gap, critics say.
The Gender Pay working group would have “full input” on the decision to choose whom the third party should be, Hardie said.