Women are likely to earn £300,000 less than their male counterparts during their lifetime of work, according to new research out today.
Analysis by specialist recruitment firm Robert Half suggested that on average men are paid 24% more than women each year, translating into £5,732. This means over an average working career of 52 years, men will earn £1,556,568 while women will receive £1,258,504.
The report also suggests that the gender pay gap is getting worse, with female salaries growing more slowly than male salaries between 2014 and 2015. While the World Economic Forum suggests that full gender parity could happen by 2133, the company have warned that it may be even longer than this.
The news comes ahead of International Women’s Day tomorrow, in which it calls for people to #PledgeForParity.
Speaking of the latest research, Katy Tanner, a director at Robert Half UK said, “Creating a diverse talent pool is becoming more of a priority as the skills shortage heats up and business leaders focus on attracting and retaining talent. As in-demand candidates continue to be in the driver’s seat, employers are needing to offer competitive remuneration and benefits packages above industry averages.”
“International Women’s Day provides a platform to highlight the importance for rewarding all employees fairly on the basis of their contribution to the organisation, rather than their gender or indeed any other point of difference.”