Women working in the financial services sector are still some way behind their male counterparts when it comes to bonus pay, new research has revealed.
According to study by the Equality and Human Rights Commission (EHRC), women are paid an average of £2,875 a year in bonuses, a massive 80 per cent less than the £14,554 paid to men in the sector.
The EHRC labelled the gender bonus pay gap as "shocking", but added that firms which take action to close this gap should be able to generate a competitive advantage.
Trevor Philips, of the EHRC, said: "By bringing down arbitrary barriers and changing practices that, intentionally or not, inhibit women's success, financial firms have the chance to boost morale, bring on new talent and maximise the potential of their existing employees."
The findings come as the Treasury Committee investigates the issue of sexism in City firms.
The body is looking into whether there is a culture of inequality at some companies regarding issues such as flexible working and salaries.
Shocking Bonus Pay Gap Between Male And Female City Employees Revealed
Tue, 08 Sep 2009
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