Gender Pay Gap Wider in 40s

Gender Pay Gap Wider in 40’s

The gender pay gap is at is peak for employees aged between 40 and 49, when women earn on average 20.3 per cent less than men, according to analysis by the Office for National Statistics.  The pay gap is much smaller for employees at an earlier stage in their careers as between the ages of 22 and 29, women earn 1 per cent less than their male contemporaries.  

There is little difference in male and female earnings when they join the job market aged 18 to 21, but a significant gap appears after 10 years.  The gender pay gap was also found to vary significantly between different occupations with skilled trades seeing the largest gap at 25.3 per cent.

Our view

As a linked story to our pensions for women story today, the above could not be more clear.  The earnings gaps between the sexes is still there.  This impacts on all other aspects of women’s lives.  

For all you women out there, you need to take action and get hold of your finances.  You cannot rely on a partner’s income or pension income in retirement.

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