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Equal pay day: women expect to be paid £6,500 less than men

Posted on from Changeboard

Today is the day when statistically, women stop earning compared to men. With the difference in salaries closing at a slow pace, what can you do to make sure women feel empowered to ask for more in your business?

New research to mark Equal Pay Day reveals that women expect to be paid significantly less than their male peers.

In a study of more than 4,700 employees and 140 employers, totaljobs found that women typically expect to be paid a salary of £25,468, compared to £32,030 for men – a difference of £6,562. 

Men are almost twice as likely to feel comfortable in asking for a pay rise, as 41% of male respondents admitted they wouldn’t asking for a higher salary. Some 25% of women said they’d feel comfortable requesting more money. 

Despite this an almost identical percentage of men and women received a pay rise in their current roles (men reported 44% and women 43%). Of these respondents, 9% of men and 8% of women received a pay rise after request. 

While the number of men and women receiving a pay rise was similar, on average male respondents received £387 more when their salary was increased. Men are also more likely to receive an annual bonus (43% of men against 37% of women). Once again the difference was quite pronounced, as men received on average £931 more than their female peers.

Much of these discrepancies are seem to be attributed to women’s lack of confidence in discussing money. Some 37% said they lack the confidence to ask for more, with 25% saying they don’t like talking about money at all. 

John Salt, director of totaljobs said: “It is disheartening that our research has revealed that despite efforts gender pay equality remains a prominent issue. 
“The application and interview process is a fantastic opportunity for both men and women to negotiate a fair benefits package, including a salary that meets their expectations. I would urge all female candidates to aim high and feel confident in demanding the same figure as their male counterparts.”

Only 68% of employers have a clear gender pay quality policy, and only a third review salaries across gender to safeguard against gender discrimination. One in five employees are unsure that salaries are equal across genders.

Salt continued: “It’s not just the responsibility of employees – I would strongly encourage employers to actively monitor for salary differences between male and female employees to ensure gender equality across their organisation. By regularly reviewing salaries, bonuses and pay rises across genders they will safeguard against any unintentional discrimination.”

 

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