Battle of the sexes
A huge pay divide exists between men and women in Ireland's financial sector, according to the latest salary survey carried out by recruitment consultancy Robert Half Finance & Accounting.
On average, female financial workers earn almost €20,000 less than their male counterparts, with the average salary for male finance professionals lying at €62,320 compared to a frugal €42,690 for women.
The research also reveals that not only are women in the financial services sector earning considerably less than men in terms of salary, but they are also losing out when it comes to bonuses. While the average bonus potential for men is €13,570, for women this figure drops more than €7,000 to €6,550.
In addition, a mere 39 per cent of the fairer sex working in Ireland's financial sector actually receive any form of bonus at all, whereas over half of all men surveyed indicated that they had been paid a bonus.
Pensions top the list of benefits that Irish financial workers are most likely to receive. However men came out on top once again, with 60 per cent indicating that they received a pension, compared to 48 per cent of women.
Ken Harbourne, branch manager of Robert Half Finance & Accounting in Dublin said that companies must look at the reasons why female workers are not reaching higher pay brackets: "In some instances it may be that women are being financially penalised for taking time out of work for family reasons," he said. "Managers must recognise diversity and provide flexible working options that accommodate the needs of both men and women."
