Banking still has long way to go on equality
Women are still paid significantly less than men in investment banking at all levels of seniority according to new data from Emolument.
The bonus and salary data benchmarking website has examined data from over 1800 employees working in front office Investment Banking & Markets jobs in London.
Its findings show that women are paid less than men at all levels and the gap starts early with a 10-16% gap even at analyst and associate level in favour of male bankers. The widest gap is at Vice President (VP) level (VPs are generally 27-32 years old), when it reaches a staggering 27%.
The figures also reveal that the ratio of men to women working in front office investment banking rises from around 5:1 at the lower levels (analyst, associate and VP) to 17:1 at MD level.
Commenting on the data, Robert Benson, ceo, Emolument.com said: “Despite the continued focus on pay equality and the drive to increase the number of women in senior roles, our data suggests that the investment banking industry still has a long way to go.
"The figures reveal a shocking lack of both female representation and pay equality which will do nothing to improve the already poor image of the industry amongst the general public.”
Picture credit: © Abdone | Dreamstime Stock Photos