EHRC calls upon finance industry to promote gender equality
The Equality and Human Rights Commission (EHRC) has told the finance sector that it needs to encourage gender equality among employers.
Research by the commission has found that among the sector's highest earners, males are taking home up to 45 per cent more than their female counterparts, while lower-paid females are 16 per cent worse off than their male equivalents.
It was also found that 70 per cent of men in the sector earned salaries of more than £29,400 in 2007-08. The same proportion of women earned below £29,500.
The EHRC, which recently launched a report aimed at addressing a perceived imbalance in parental leave support between female and male employees, labelled the new figures "shocking".
As well as urging businesses to up the ante on tackling pay gaps, the commission called on the government to look at the matter when drawing up its equality bill.