Women in Financial Services Blog

Would you work for the remainder of the year without pay?

Would you work for the remainder of the year without pay?

Mark Freed / 11 Nov 2017

Would you work for the remainder of the year without pay?

Today - Friday marks Equal Pay Day in the UK. It’s the day on which women, as a whole, effectively stop earning money based on the official gender pay gap that still persists.

Because the gap moves, so should Equal Pay Day, but over the last 12 months so little progress has been made on pay equality that it falls on exactly the same day in 2017 as it did a year ago – 51 days before the end of the year.

In the City of London men earn £9.00 per hour more than women. The gender pay gap here is 29%. This is equivalent to women working unpaid from 15 September.

In Tower Hamlets (Canary Wharf) men earn £6.92 per hour more than women. The gender pay gap here is 25%. This is equivalent to women working unpaid from 30 September.

Early submissions under the Governments Gender Pay Gap Reporting initiative suggest that average pay gap in Financial Services is likely to be between 30-40%. This is equivalent to women in the sector working unpaid from July / August.     

The BBC Coverage of this story

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