Study suggests that gender pay gap 'doubles' for female managers over 40
22 Dec 2015
The Chartered Management Institute (CMI) has released a study suggesting that female managers aged 40 and over are paid a total of 35% less than their male counterparts.
According to the report, the gender pay gap almost doubles for women aged over 40 when they enter management roles. The study has also revealed that this figure is only set to worsen with age.
Currently, men and women in their 20s and 30s receive broadly similar levels of pay. However, once women reach their 40s, a sizeable pay gap develops.
The average pay gap in the UK currently stands at 19%. When women who hold senior positions enter their sixties, the pay gap stretches to 38%.
Data from the CMI’s latest National Management Salary Survey suggests that female employees working in professional and full-time management positions earn, on average, 22% less than male employees.
The survey polled 72,000 managers in the UK, and revealed that, in monetary terms, the gender pay divide stands at £8,524.
Women typically earn £30,612, compared to a figure of £39,136 for men.
Those women who hold director roles earn an average of £123,756, whereas men in the same positions earn £138,699.
Investigations are being undertaken by MPs into levels of pay discrimination between male and female employees.