Women (in the UK) earn around 80% less than men in performance-related pay at some of the UK's leading finance companies, revealing a "shocking disparity", according to an official inquiry by the Equality and Human Rights Commission.
Findings also show more than eight out of 10 women starting new jobs are paid lower average salaries than men.
The "massive gender gap" is one of the highest in the UK economy and entrenched by recruitment patterns, said the commission. It is calling for an overhaul in recruitment practices in the industry which provided 1.3 million jobs in Britain last year.
The disparity is revealed after the inquiry, the first of its kind, questioned 44 top firms which between them employ almost one quarter (22.6%)of finance sector workers. A key factor is believed to be the sector's age profile, where the majority of workers are between 25 and 39, the age at which women have childcare responsibilities.
The commission's inquiry found women earned an average of £2,875 in annual performance pay compared to £14,554 for men. The Guardian
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