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Why is the gender pay gap still so large?

As we covered in one of the earlier post, the gender pay gap in the financial sector hits a high of 55% in the city against an average in the UK economy of 28%. While emphasis is being placed upon the city, where the pay gap and bonus gap is the largest, many people seem to be missing the point that on average there is still a 28% gap between the remuneration of men and women doing the same job. How can this be?

It is quite unbelievable that there is such a large pay gap when you bear in mind the various employee associations, unions and the government who have all backed equality in the workplace and equality between men and women. The very fact that the average pay gap is still a massive 28% does not reflect well on the UK government and despite various headlines and new employee regulations it has done very little to change the situation.

We need a concerted effort from all parties to equalise pay for men and women who are doing the same role in any business. However, one problem is funding because ultimately it will be the lower paid who see their remuneration increase although this is unlikely in the short-term because of the financial squeeze which many companies are facing. How would a man in the workplace feel if he saw his colleague receive a massive pay rise and he received nothing?

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