Gender pay gap for accountants widens

THE GENDER PAY GAP for ICAEW accountants working in business has widened, with women over 45 seeing the biggest drop in salaries from last year, according to the latest salary survey from the institute and Stott & May.

According to the ICAEW, male chartered accountants in business earn an average salary of £100,900 compared to females who earn an average of £63,900, a gap which has increased by 5.4% since 2014.

Women over 45 saw their salaries fall by £6,500 from last year, despite men in the same age category increasing theirs by £4,200. The pay gap is narrowest among chartered accountants under 30, who also enjoyed a slight pay rise from last year.

The gender pay gap remains partly due to demographics and working situations of men and women. Men are more likely to work in senior roles, the private sector and in regions where salaries are typically higher. Women are more likely to work part-time and in public or not-for-profit organisations where salaries are typically lower, the institute found.

ICAEW commercial executive director, Sharron Gunn, said: “We need to face the hard truth that there has been desperately slow progress to correct the gender pay gap, given the Equal Pay Act was introduced 45 years ago. While it’s a national trend across all professions, we have a gender pay gap problem in accountancy too.

“With men more likely to hold more senior posts and chartered accountancy being a route into leading businesses, we must look again at how businesses are developing their pipeline of female leaders.

Overall average salaries for ICAEW chartered accountants in business have remained fairly static over the past four years, in keeping with sluggish global wage growth. This year international salaries fell as a result of a turbulent global economy and exchange rates.