Gender pay gap hasn't been fixed by transparency – fines may force companies to act
Geraldine Healy, Queen Mary University of London and Mostak Ahamed, University of Sussex Despite huge amounts of publicity and government efforts to tackle the gender pay gap, it remains a serious issue. It affects women in most industries : from artists and academics to journalists and doctors. We’ve researched some of the particular problems facing the UK’s finance industry when it comes to the gender pay gap. Across finance as a whole, women earn 27.2% less than men an hour, on average. When it comes to bonuses the gap is nearly 50%. Our research shows how this plays out at different levels of the finance industry. Progress on gender pay issues in this sector has been too slow, fragmented and uneven over the past ten years. The UK government introduced legislation requiring employers with more than 250 employees to report annually their gender pay gap publicly beginning April 2018. The principle is that greater transparency will reduce the gender pay gap, but...