Female board members paid 73% less than men

More women are being appointed to the boards of top UK companies but
their pay is lagging behind that of male directors, new research shows.

New Street Consulting Group found that female FTSE 100 directors are
paid an average £237,000. That’s 73% less than the average earnings of
£875,900 for men.

This gender pay gap is much bigger than the 15.5% average across the UK
workforce as a whole.

It’s thought that the large pay gap is due to 91% of women on FTSE 100
boards holding non-executive roles.

But even when accounting for this, women were paid less.

Female non-executive directors at FTSE 100 firms are paid an average of
£104,800, compared to £170,400 for men, the report said.

For executive board members, average pay is £2.5m for men and £1.5m for
women.

Claire Carter, director at New Street Consulting Group, said that “great
progress” had been made in bringing more women onto boards, but the
research shows there is more work to do.

“Focusing solely on the percentages of directors that are women is not
enough when trying to approach equality,” she said.

“Most businesses want to end the old boys club that exists at the top.

“The key to doing that will be ensuring that women have more executive
responsibilities and are trained and prepared properly for taking on
that responsibility.”