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Gender pay gap in city is enormous

A report by the equality and human rights commission has blown wide open the massive gap in pay and bonuses between men and women in the financial sector. These startling figures indicate that the average male bonus in the sector is five times that of their female counterparts who earn up to 39% less overall. However the situation is far worse for those working within the "city".

The figures show that the gender pay gap for full-time workers in the city can be anything up to 55% against a figure of 28% for the overall economy. It seems as though the UK financial sector, and the city in particular, may well be the last bastion of male dominance. So what will happen next?

The Labour government has brought in various employment laws which should in due course reduce the gap between pay for male and female employees in the same position. However, when you consider the gap is as much as 55% in some areas of the economy this will take some time to overturn and it will not be an overnight change. Whether the regulations brought in by the government have gone "too far" remains to be seen with particular emphasis given to "favouring" some elements of the workforce.

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