A recent study has revealed that the gender pay gap has barely changed in the last four years despite many initiatives to try and reduce the pay gap.
The data which comes from HMRC showed that women made up less than a quarter, 27%, of all higher-rate taxpayers in each of the past four financial years. Last year, this meant women made up 1.21m of the 4.47m higher-rate taxpayers despite a rise of at least one million high-end taxpayers in the same period.
The survey is a blow to the government and organisations who have launched policies to try and reduce inequality in the workplace and obtain equal pay for women. Some banks have aimed to make their senior management team consist of at least 40% females following a study that showed that less than a third of the senior staff in the industry were female with HSBC adding that females were “significantly underrepresented at a senior management level.”
The Government have also launched a number of new plans to try and reduce gender inequality. It was announced in the summer that organisations with 250 employees or more were to publish the difference between the average pay of their male and female employees. These rules were to apply to all sectors and were also to include bonuses and other payments to all members of staff.