Women paid £10k less than men after ten years in accountancy

THE GENDER PAY GAP in accountancy has reached a record breaking £10,000 in the first ten years of a professional career, according to specialist financial recruiters.

Research undertaken by Marks Sattin found that after just two years of qualification male accountants can expect to earn up to £6,433 a year more than their female counterparts. If both genders have worked for ten years in the profession, women generally earn £10,000 less than men for the same work. However, after ten years women can be paid up to £26,000 less for an identical role to that of men.

The latest research shows that the pay gap has gained momentum in the last year. In 2012 the pay gap between men and women with ten years’ experience grew to £10,098 from £8,070.

The research also showed that male accountants are more likely to say they are satisfied with their job with 72% reporting this, compared with 60% of women. Similarly, the proportion of women feeling insecure about their job is slightly higher than men (30% compared with 28%).

However, it appears that government initiatives to boost the number of women in boardroom roles is working. The Big Four firms have seen an 8% increase in the number of women occupying UK and European board roles to 22%. Following government consultation Lord Davies drafted a report recommending that women make up at least 25% of all boards by 2015.

Dave Way, MD of Marks Sattin, said: “While an increase in female accountants reaching board level is hugely encouraging, a situation where men are continually earning more than women all the way up the career ladder is not healthy for accountancy; hopefully a more balanced seniority structure will go some way to correct this trend.

“The UK accountancy sector is internationally respected and an extremely important part of the economy, so it is vital that like for like pay is established if we are to attract the best talent of both genders.”