New research from Fox & Partners indicates slow progression in gender pay gap figures among FTSE 350 financial services firms as female directors are found to be paid 66% less than male directors, a figure unchanged from last year. Whilst there has been an increase in women holding non-executive director roles, just 9% of women on the board of FTSE 350 financial services companies hold executive roles, down from 14% last year, thus impacting the pay gap.
Our partner Catriona Watt commented: “Financial services companies may be achieving their quotas [by promoting women to non-executive director roles], but the data indicates that they are not making sufficient change to close the gender pay gap.” She suggests that a first step is for firms to sign up to the Treasury’s Women in Finance Charter to promote gender diversity, and commit as a whole organisation to identify and overcome the barriers that may be preventing women from progressing through the ranks.
You can read the full articles here: City AM, Financial News, Personnel Today and Management Today.
Our full press release is available here.
