Fairness for women working in finance
Despite Equal Pay being made law in the mid seventies and current employment equality legislation dating back to the mid nineties, a recent TASC report on working conditions in Ireland revealed that significant differences in earnings between men and women working in the finance sector.
- 54% of those working in finance, insurance and real estate were females, 46 % were males.
- Despite the relatively large numbers of women working in the sector, males are more likely to occupy higher managerial positions.
- Men earn 30% more than women in the sector. Mean hourly earnings for men in the financial services sector was €34.31 per hour — for women €24.22 per hour. Men earn 30% more than women in the sector. (figures from 2009)
- This earnings gap suggests that females generally occupy lower level positions and are more likely to have worse jobs than men.
- Average annual earnings in the sector: MALES € 71,102 — Females €40,875 (2009 CSO STAT BANK)
- Salaries in call centres are also relatively low. Low wages paid to call centre workers is usually explained by the traditional gender division in such employment. There is evidence that back office jobs are considered ‘womens work’ and hence the pay is lower, despite the skill and education required. There is evidence that many of these posts are filled by migrant workers who are paid low wages.
- While call centre workers in Ireland tend to have relatively lower wages it needs to be emphasised that those employed in unionised retailed banks are in a relatively better position in relation to this issue.
Women working in finance work hard and deserve fairness and respect.
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