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Making the finance sector add up for women
Are you happy that you’re being paid fairly for the job you do? If you’re a man you’re more likely to answer yes to this question than a women is – at least if you’re one of the hundreds of thousands of people in the UK working in finance.
A rash of recent reports on gender diversity, from the likes of Deloitte and Marks Sattin, serves as a timely reminder of the work the sector needs to do to catch up with others when it comes to closing the gender pay and progression gaps.
While remuneration is always a major focus of such reports, we need to ask ourselves whether the focus on the gender pay gap oversimplifies an issue which is actually much more complex. It’s something AAT’s own new white paper explores and how we give the sector’s women the confidence to challenge the norm stands out in this as an issue to tackle. Beyond the pay gap, there is a bullishness gap – men think they should earn, on average, £11,900 more than they currently do. But when women were asked the same question, the answer is just over half that figure – £6,850.
With yet more evidence being published yesterday of the economic benefits of empowering women in the workplace, let’s mark this International Women’s Day by pledging to help level the playing field. Whether that’s increasing flexible working options for your employees, committing to measure and report on gender diversity in your organisation or launching a mentoring programme for female employees – there are lots of practical ways to start.
Olivia Hill is Chief HR Officer at the Association of Accounting Technicians. For more details visit www.aat.org.uk/news/article/making-finance-sector-add-women