New data from CMI (Chartered Management Institute) and salary specialists XpertHR has uncovered the existence of a 50% bonus pay gap, which is aggravating the existing gender pay gap.
According to the figures, male managers earned average bonuses twice as big as those of their female counterparts over the last 12 months – £6,442 compared to £3,029 – on top of average basic salaries almost 25% bigger (£38,169 compared to £29,667).
Men are more likely than women to get a bonus across all management levels (42.3% compared to 40.6%), but this gap is biggest at director level: 42% of female directors took home a bonus in the past year, compared to 52% of men. Similarly, while male managers’ earnings across all levels are rising faster than women’s for the first time in five years (3.2% compared to 2.8% including bonuses), male directors’ earnings rose 5.3% over the last 12 months, compared to just 1.1% for female directors.
Analysis of the ‘executive pipeline’ continues to show a steep drop off in female talent from middle-management levels onwards. More women than men continue to embark on executive careers – 64.3% of entry-level staff are female. However, at middle-management level, just 44.3% are women and fewer than a quarter of board directors (24.1%) are female.
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