THERE IS CLEAR EVIDENCE THAT EQUAL
PAY CLAIMS IN THE FINANCIAL SECTOR
CAN BE VERY VALUABLE.
The EHRC has carried out various inquiries into sex discrimination and equal pay in the finance sector. Questionnaires were sent to 49 companies which involved a mixture of both retail and investment banks as well as other “finance” companies.
It also found that women in the age group 25-39 were the worst hit mainly because the finance sector was not sensitive to childcare/maternity or flexible working and therefore those women generally got stuck.
Women also received basic pay and very few extra allowances. The EHRC said there was a lack of transparency on pay and that there was “direct and persistent discrimination”. It also said that the pay differential in the finance sector was the worst in the economy between men and women.
Finally it found that women working full time in fund management, stockbroking and trading had the biggest pay gaps earning on average, 60% less than men and this was even worse when bonuses were factored in.
Claims apply in both the retail and the investment banks.
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