THE GENDER PAY GAP within the accounting profession has shrunk by 3% the past year, but financial inequalities still exist between the two sexes, with male accountants earning nearly £20,000 more than female practitioners.
Women are also earning substantially less than men when it comes to annual bonuses, according to new research from financial recruitment firm Marks Sattin.
Female accountants earn £67,680 a year on average, whereas male practitioners earn approximately £84,970, a gender pay gap of more than £17,000.
The basic salary in accountancy is £71,890 for a man, and the average for a woman is £59,420, meaning a woman’s average basic salary is 83% of that awarded to a man.
In regards to bonuses, women earn an average of £8,260, which is 36.9% less than the amount received by men, £13,080.
Despite there being a £17,000 pay gap within the profession, accountancy is performing above the UK average in terms of salary equality.
Remuneration packages for women in accountancy increased between 2013 and 2015, with basic pay packages growing 3%, to £59,420 from £57,650.
Dave Way, managing director at Marks Sattin, commented: “Earning equality between the genders is crucial for ensuring we continue to attract the highest calibre of talent to the profession but, in our experience, as accountants become more senior the pay gap often becomes wider.”
The Association of Accounting Technicians (AAT) has also released research on the gender pay gap within the profession, finding that men are twice as bullish as women about salary expectations and are more likely to push for and receive pay rises.
According to the AAT, two thirds of men think men and women are treated equally in terms of pay and progression, compared to just four in ten women.
HMRC breaches client confidentiality; and partner profits fall at EY. These stories and more discussed in Friday Afternoon Live
Two new audit partners have been appointed at the firm BDO in its audit practice following continued growth and investment
Six new partners have been revealed by top ten firm Mazars
KPMG has announced the appointment of David Campbell as partner within its Enterprise practice.