April was always set to be a significant month for transparency.
For the first time, UK companies with over 250 employees were required by law to submit data on how much they pay their male and female staff.
Following the 4 April deadline, it’s clear that an overwhelming majority (c. 85%) of the 10,300 companies have a mean gender pay gap, and broadly in favour of men.
The mean gender pay gap measures the difference between average male pay and average female pay within an organisation.
It is affected by the representation of men and women in different pay brackets – particularly an organisation’s top earners.
Within these large UK firms, men hold over 60% of the top decision-making positions, which contributes to an overall mean pay gap of 15%.
Over 100 companies registered a mean gender pay gap of 50%, meaning they could be paying male employees at least twice as much as women on average.
Two major high-street banks showed bonus pay gaps of 86% and 79%, which clearly signifies preferential advantage behind male-dominated roles.
How do we get more Leading Women? Introducing the Global MBA
In 2017, Chartered Management Institute (CMI) research found that women occupy two-thirds of junior roles but only about a quarter of executive roles.
This is significant for gender pay inequality, as the new stats prove. Gender pay gaps are highest where the ratio of top leadership roles is most heavily dominated by men.
The CMI Women campaign to encourage the promotion and training of more women into management is reflected by the University of London’s Global MBA programme.
2018 marks 150 years since the University of London became the first institution in Britain to admit women to higher education.
To mark this special anniversary, our ‘Leading Women’ campaign includes sharing stories of exceptional and pioneering women who have led and inspired through their achievements.
The Global MBA supports the next generation of women in leadership by offering a flexible online programme that is designed to fit around existing commitments.
“If we are to boost global productivity and inclusiveness, we’ve simply got to get more women everywhere into managerial and leadership positions,” says CMI Chief Executive, Ann Francke (pictured above).
“This Global MBA reaches out to female managers everywhere in the world, which is absolutely vitally important.
“And it is open to anyone, anywhere, anytime.”
The Global MBA has four intakes per year: January, April, July and November.