Women accountants still earning £17k less than men

Business woman
By Isabelle Bell, CA Today

1 March 2016

Women in the accountancy profession are still earning an average of £17,000 less than men, a study has found.

With just one week until International Women’s Day, research by financial recruitment firm Mark Sattin found that female accountants earn an average total remuneration of £67,680 a year, compared to the £84,970 earned by male practitioners.

Inequalities in bonuses also exist, with women taking home an average bonus of £8,260 – 36.9% less than the average bonus for men of £13,080.

Despite these figures, the report said that the pay gap in accountancy has shrunk by 3% from 2013-2015 and women’s salaries are rising.

The research follows the announcement last month that companies employing more than 250 people must disclose their pay gap by 2018. The legislation will also introduce a new league table to rank firms by their pay equality.

The Big Four's pay gap

A number of firms, including PwC, KPMG and Deloitte, already disclose their pay gap.

PwC was the first of the Big Four firms in the UK to reveal its pay gap of 15.3%. Its pay gap is also the lowest out of the Big Four’s publicly available figures.

Deloitte’s gender pay gap is 17.8%, while KPMG is 21.4%. EY’s UK pay gap is not yet publicly reported, but in its most recent Global Transparency Report the firm said it was aiming to have at least 30% female representation in its new partner intake measured over a three year period.

Dave Way, managing director at Marks Sattin, said that the pay gap increases as accountants move up the ranks, but that the profession was making “strides towards equality”.

Accountancy as a whole has a slightly lower gender pay gap than the national average (17% compared to 19.1%).

Mr Way said: “Our research is promising for accountancy as it shows the pay gap is closing. The imperative for large companies to publish their gender pay gap from 2018 should galvanise further positive action and internal programmes to drive change.”

Topics

  • Accountancy

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