Commission's report into the financial sector reveals women at the top have among the highest pay gaps

A new Commission report reveals gender pay gaps in the finance sector of up to 60 percent.

In the financial services sector as a whole, female full-time employees receive 55 percent less annual gross pay and 39 percent less hourly gross pay than men – approximately double the pay gap figures for the economy as a whole. The report also points to a 79 percent gender pay gap for annual incentive pay (which includes bonuses) for full-time workers.

The gaps in incentive pay and the pay gaps more generally point to the extent to which women hold lower status, lower paid jobs in finance – even though there are equal numbers of men and women in the sector as a whole.

Trevor Phillips, Chair of the Commission, commented: 'The figures we're releasing today are shocking and indicate just how serious the pay gap has become in the financial sector, with women concentrated in lower paid, lower skilled roles and few able to make it to the top.

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