Chartered Management Institute (CMI) has put out research data that shows British women managers will close the gap with men on equal pay in the year 2067. The annual salary survey showed British women in the management field were paid an average of 31,306 pounds. This is 24 per cent less than men who average earnings of 41,337.
The divide gap was also seen at the junior management level where men averaged pay with more than 1,000 pounds over the pay of women.
The survey covered 43,000 managers in 200 organisations.
CMI said: “Four decades have passed since the Equal Pay Act became law, when the pay gap stood at 34 per cent across the board. In many ways things have progressed but the fact that such a significant gap still exists means the UK still has some way to go.”
Although female managers saw a pay rise above the level of men at 0.5 per cent, at that yearly rate it will take until 2067 to achieve equal pay.
In October the Equality Act will go into effect that will allow employees to discuss their pay earnings. No longer will companies be able to stop employees from discussing their pay or raises. The Government Equalities Office said they believe this will allow more women to find out if they are being deprived of equal pay for equal work.
The Equality and Human Rights Commission said: “Women can still expect to earn less than 85 pence for every pound their male colleagues earn. In some sectors the gender pay gap is far worse.
“Our research shows the causes for this persistent gap remain: stereotyping of women’s capabilities and skills; women bearing the brunt of caring responsibilities; and discrimination in pay systems.”