Male managers earn bonuses twice as big as their female counterparts, on top of an existing gender gap in fixed salaries, according to a new survey.
Men receive £6,442 ($ 10,082) on average in annual bonuses, compared to £3,029 ($4741) for women, who also receive a 25 per cent lower salary than men. Over a working lifetime, men stand to earn over £141,500 more in bonuses than women doing the same role, the National Management Salary Survey revealed on Monday.
The U.K. survey, carried out by the Chartered Management Institute (CMI) and human resource specialist XpertHR, showed the salary and bonus gap widened as employees moved up the management ladder, with a large difference in pay between genders at the top levels. Male directors received an average of £63,700 in bonuses, while women were awarded just £36,270.
(Read more: EU aims to get 40% of top positions filled by women)
"Despite genuine efforts to get more women onto boards, it's disappointing to find that not only has progress stalled, but women are also losing ground at senior levels," said Ann Francke, CMI Chief Executive. "The time has come to tackle this situation more systemically."