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Why are female accountants paid less than their male counterparts?

Why are female accountants paid less than their male counterparts?

More than 50% of female accountants believe they are held back because of their gender and this affects their chances of promotion and their salary. Only 12% of men think they are disadvantaged in the same way, according to a recent study by Marks Sattin.

The annual hours and earnings survey from the ONS showed that the average salary for a female accountant was £32,080 last year. However, the average male accountant received at least £6,000 more giving him a salary of £38,500.

Overall average salaries have dropped in the accountancy sector over the last couple of years. In 2010, females received £32,120 and their male counterparts got £41,700.

Men still continue to dominate in the boardroom as well. Women make up less than 14% of the board members in the Big Four firms both at home and in Europe.

Lord Davies recommended that at least one in four board members in FTSE 350 companies should be female by 2015, but it looks like accountancy firms may struggle to achieve that. According to the CBI, just 14.5% of FTSE 100 board positions are held by women at the moment.

Marks Sattin MD, Dave Way, explained that although the accountancy sector recruits an equal number of male and female graduates, very few females rise to the top.

Females feel disenfranchised from the highest positions and they need to actively promote themselves for senior roles and not let historical precedent determine the make up of future boardrooms.

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Image: Dice and British Pounds on Scales by Images_of_Money

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