EHRC reveals women receive 80% less in bonuses

by Richard Kilner

Story link: EHRC reveals women receive 80% less in bonuses

The Equality and Human Rights’ Commission (EHRC) has conducted an inquiry which has revealed that women get paid around 80% less in performance related pay than men, a major contributing factor to the City pay gap.

The Finance Sector Inquiry also shows that newly recruited women will have a lower initial pay than men.

Annually, women average £2,875 in performance related pay, compared to £14,554 for men.

In addition, measures to address the gender pay gap were being sought in less than half of the cases uncovered by the inquiry.

EHRC Chairman Trevor Phillips has described the revelations as a shocking disparity.

The BBC has reported that Equality Minister Harriet Harman has stated that the Government is to combat the gap by the introduction of tough new measures, including banning secrecy clauses which are particularly common in contracts within the financial sector.