Insight: new research reveals significant gender pay gap for retail managers
New ways of measuring how much men and women are paid under Government reporting requirements have shown that the gender pay gap in the retail sector is currently 19.4%.
When conducting research on managers’ salaries, the Chartered Management Institute and XpertHR found that male managers in retail earn an average of £4,315 more than their female peers. While the average salary of a female manager stands at £17,937, this increases to £22,252 for men. This includes salary and bonuses, as well as perks such as car allowance and commission.
However, the study found that the gap is still considerably lower than across UK business as a whole where the average male manager earns 26.8% more than female colleagues.
This is the first time that pay gap data, compiled by XpertHR, has been published taking into account the new rules. The figures are based on analysis of salary data of 118,385 managers from 423 organisations over the past year.
CMI’s 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 one per cent 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.”
