Bonus gender pay gap revealed
Men are receiving almost twice the level of bonuses as women, according to data from the Office for National Statistics (ONS).
The spotlight in 2018 fell on the gender pay gap and revealed significant differences across many industries. With the annual bonus season on us, the ONS figures for 2018 bonuses show an average for full-time male employees of £2,613, as opposed to female employees receiving £1,158. The overall average bonus was £2,242.
Across the country there were also wide disparities, with London workers earning bonuses up to three times the national average. Workers in Wales received the lowest average bonuses.
The gaps are even greater when comparing directors and corporate managers (at £7,878) and those in the caring services (£37 at the lowest). The range between the extremes covers business, media and public services, technology, administration, trades and secretarial.
Having fallen from a 2008, pre-crash peak of £3,038, incentive pay has gradually been increasing, with private sector bonuses growing since 2015. However, the gap in gender parity – possibly linked to the types of roles women often occupy towards the lower end of the earnings spectrum – is still a reminder of the work remaining to be done.
With bonuses and incentives a key element in certain sectors, making sure employees feel that they are being properly rewarded is a crucial consideration for retention and recruitment in the new year.Talk to Barnes Roffe today