Ann Francke is CEO at the CMI (Chartered Management Institute), author of the FT Guide to Management and she also acts as a strategic adviser for US rich social media platform, Tongal. Prior to this, Ann was Global Managing Director for BSI (British Standards Institution). She began her career as a marketer and has held senior roles in Yell, Boots, Mars and Procter & Gamble.
Recently published figures from the CMI (Chartered Management Institute) illustrate a picture of the widening gender pay gap amongst managers, hitting professional women hardest in the second half of their working lives. Analysis of the National Management Salary Survey, which covers over 68,000 professional UK workers, shows the monetary value of the gap between men and women aged between 45 and 60 stands at £16,680 per year.
Including men and women of all ages, the current gender pay gap for managers stands at £9,069, with the average salary recorded at £39,461 for men and £30,392 for women. This means women are earning only three-quarters (77%) of what men in full-time comparable jobs earn – a 23% gender pay gap.
Extensive data shows that the gender pay gap persists
Lower levels of pay for women managers cannot be justified, yet out extensive data shows that the pay gap persists, with many women hit by a ‘mid-life pay crisis’. Women and men should be paid on the basis of their performance in their particular roles, but this is clearly not yet the case for far too many.
It’s not right that women would have to work until almost 80 for the same pay rewards as men. We have to stamp out cultures that excuse this as the result of time out for motherhood and tackle gender bias is pay policies that put too much emphasis on time served.
Calling for employers to measure and report on women’s pay
With the economy looking healthier than ever, it’s the perfect time for employers to expand their talent pool by supporting more women to become senior managers and leaders. CMI is calling for employers to measure and report on the percentage of women at each level of management and what they are paid, which leading employers are increasingly doing.
Support we provide
CMI supports Women in Management (WiM), which is a great network for professional women looking to progress in their career. With the evidence clearly showing that women continue to face huge barriers to progression, WiM membership provides expertise and support that can help women handle the challenges that confront them as their careers develop – like the Horizon mentoring scheme, which pairs young female managers with more experienced individuals. As part of CMI, WiM members are also able to access all our professional support, like over 200 management checklists available through our brilliant ManagementDirect online portal.
To help employers, CMI has launched the Management 2020 Benchmarking Tool which helps employers to identify how effectively they’re leading their people, including whether they have commitments to champion diversity, actively support employees to return to work after parental breaks, and have senior leaders who are role models on this issue.
CMI also supports Think Act Report, the government-led scheme which encourages employers to identify any issues they have around gender equality, take action to fix them, and report on how they ensure gender equality.
You can view all the CMI infographics here – Gender Salary Survey – Infographics – Aug 2014