Gender pay gap in City ’shocking’ – BBC report

News in via the BBC is this grim news on the gender pay gap:

Men working in the UK’s financial sector receive five times more in bonus payments than women, according to a survey of 44 leading companies.

On average, women earn £2,875 compared with £14,554 for men, the Equality and Human Rights Commission found…

One of the main reasons for the vast difference in bonuses is that relatively few women reach the top ranks of financial firms where the biggest rewards are paid.

It comes on top of an average difference of 39% between men and women’s basic salaries…

John Cridland, deputy director general of business group the CBI, said parts of the financial services sector still had “some further distance to go” in terms of equality.

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