Gender pay gap in finance

So, new day, new report out and they make the same old mistakes.

As a whole, the finance sector has one of the highest overall gender pay gaps in the UK economy – with women working full-time earning 55 per cent less annual gross salary than men. This compares to a pay gap of 28 per cent for the economy generally.

Listen dimbulbs. You\’ve already been told by the Office of National Statistics that you shouldn\’t be running around using the mean to measure the pay gap. You should be using the median, of 12.8% or so, not the 28% you quote there.

If you\’re going to keep lying to us even when you\’ve been told not to why should we listen to anything at all that you say?

Interesting notes though:

The causes also include factors that may be outside of the firm’s direct control, for example persistent job segregation.
….
In some parts of the sector, a long hours’ culture can be tough on those with caring responsibilities.

Yup: some people in the sector work 70 hours a week and get tons of dosh. Others work 40 hours and get less. Those who either have or wish to have \”caring responsibilities\” tend to take the latter jobs not the former.

Quite why this is discrimination or even a problem is unknown to all but the twits that wrote this report.

The gender pay gap for annual gross earnings (that is, all earnings, irrespective of hours) in the sector is 60 per cent, much higher than the economy-wide gap of 42 per cent.4 Based on mean full-time annual gross earnings, the overall gender pay gap is 5555 per cent, compared with 2828 per cent in the economy as a whole.

In every other sector, in every other report, we look at pay per hour before overtime. Why are we looking at gross annual earnings here, not adjusting for hours worked? Because there is a gross disparity in hours worked and thus we can make the figures look worse than they would otherwise.

Lying little shits they are.

Occupational segregation and concentration are more marked in financial services than across the British economy as a whole. (page 27, para 1.5)
Men occupy two-thirds of managerial and senior jobs and nearly three-quarters of professional jobs. We believe this disproportionality is likely to have a significant effect on recruitment and progression. (page 27, para 1.5)

There\’s the cause, right there: and add in that those in revenue generating jobs, where pay is markedly higher, tend to be men not women and you\’ve pretty much explained the whole thing.

Given that it is all about occupational segregation what we would now like to know is why is there this occupational segregation?

If it is about the choices that people make, trading flexibility, hours at work and not at work, for the income to be made from that work, then it\’s not a problem, is it? People making choices to suit their own lives: in fact, it\’s not that it\’s not a problem, it is actually positively desirable. People getting to make choices, lovely!

And as that is what it does indeed seem to be then we\’ve not got a problem and we don\’t need to do anything about it. Even though these bastards are lying through their teeth with the statistics. We should just tell Trevor and his mates to fuck off.

3 comments on “Gender pay gap in finance

  1. They’re not fussed aout lying Tim, or fussed about being blatant – it’s just propaganda, and enough people will believe it to suit them. Further, enough people will repeat it – like the BBC – while *knowing* it to be untrue, simply because they share the same poisonous “equality” agenda. It’s a cancer.

  2. To be fair to the BBC they did actually try to point this out in the Today interview, but when Trevor segued and slipped and slid around the question, they didn’t do a Paxman and nail the lying bastard.

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