The gender pay gap isn’t isolated to the United States. According to a study by the Chartered Management Institute (CMI), if current salary trends continue, it will take another 57 years for the gender pay gap to close in the United Kingdom. In other words, another half century will go by before men and women will earn the same wages for doing the same work.
The Chartered Management Institute also learned in its recent study that female managers’ salaries did increase by 2.8% in the past 12 months (compared to 2.3% for men). However, those same female managers still earned an average of nearly $16,000 less than their male counterparts. That pay gap isn’t isolated to management positions. While the gap might vary a bit at different levels on the corporate ladder, it still exists. For example, the gap is smaller among junior management workers, but it’s even higher (24% gap) at the executive level.
Interestingly, it has been forty years since the Equal Pay Act was passed in the United Kingdom. However, it appears that it will take a full eighty years, nearly a century, for equal pay to actually become a reality.