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Business and Economy
For Better or Worse?
Richard Wilkinson and Kate Pickett
[For: The Social Question. Proposed collection edited by Chris Deeming, Paul Smyth]
The Equality Trust’s analysis shows that the average CEO took home 90 times the salary paid to a senior teacher, 186 times the salary paid to a carer and 212 times the salary earned by a minimum wage worker. Based on figures released by the CIPD and High Pay Centre, the average FTSE 100 CEO was paid £3.46m in 2018, earning the average wage before 5pm on Monday 6th January.
Dr Wanda Wyporska, Executive Director, The Equality Trust commented:
Women lose hundreds of thousands of pounds over their working lives, says The Equality Trust.
The Equality Trust released its lifetime loss calculator today to mark Equal Pay Month, highlighting the long term effects of the gender pay gap for women. Based on the current figures reported under the gender pay gap regulations, women working at companies with a gender pay gap are set to lose up to hundreds of thousands of pounds over a working lifetime of 45 years.
On the 49th anniversary of the passage of The Equal Pay Act 1970 (Wednesday 29th May), The Equality Trust releases a groundbreaking report ‘From Pin Money to Fat Cats: Pay Inequality in the FTSE 100’, an analysis of the FTSE 100-owned companies on a sector-by-sector basis in terms of CEO pay ratios, gender pay gaps and gender bonus gaps.