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Pay equality ‘to take 57 years’

Pay equality ‘to take 57 years’

Women managers saw their pay rise by 0.5% more than men last year – but it will still be more than 50 years before their salaries are the same as their male counterparts, according to a new study.

A survey of more than 43,000 managers in 200 organisations by the Chartered Management Institute (CMI) found that while female bosses have seen a rise in wages of 2.8% over the last 12 months, they still earn £10,000 less on average than male managers.

The institute said that at the current rate of progress, female managers will not be paid the same as men for 57 years.

The pay gap also exists at junior management level where men are paid on average £1,000 more than women executives.

Companies in the Midlands witness the worst difference in pay, while the gap is smaller in the North East, according to the report.

CMI said that around one in 12 female directors resigned last year, twice as many as men, possibly because of dissatisfaction with pay.

Petra Wilton, CMI head of policy, said: "Girls born this year will face the probability of working for around 40 years in the shadow of unequal pay. The prospect of continued decades of pay inequality cannot be allowed to become a reality.

"We want to see Government take greater steps to enforce pay equality by monitoring organisations more closely and naming and shaming those who fail to pay male and female staff fairly."