Gender pay gap differences in the financial sector for male and female to check if pay discrimination really exists

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ACKNOWLEDGEMENT

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DECLARATION

I declare that the contents of this dissertation/thesis represent my own unaided work, and that the dissertation/thesis has not previously been submitted for academic examination towards any qualification. I further declare that this work has not previously been presented in whole or part, for any other award, or published in whole or in part elsewhere, including this university. Furthermore, it represents my own opinions and not necessarily those of the University.

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ABSTRACT

This research will look at gender pay gap differences in the financial sector for male and female to check if pay discrimination really exists. The objectives of this research are:

To determine the causes of the gender pay gap in the financial sector.

Examine transparent policies.

Investigate legislation relating to transparent pay policies, analyse pay differences in the Financial industry

Make recommendations for realignment of disparity in pay gap through effective human resources strategies to attempt to change the pay gap landscape.

Using a qualitative method questionnaire focused on both male and female employees in various sectors of the Financial Services, the research conclude which of the two genders has more opportunity in terms of pay, career progression, promotion and work flexibility. Early in 2009, the Equality and Human Rights Commission conducted a gender pay gap analysis in the Financial Services industry to compare salaries for women in the financial sector against men in the same or similar positions in the same industry. Findings concluded that women earn 55% less per year than men in the same industry, job and pay grade. The research also concluded that women are more far more likely to be found working in a customer service call centre than in senior staff or management roles. Additionally, the research also revealed that there was discrimination in terms of reward policies as full time female employees received only a fifth of annual bonuses paid to men working full time in the same sector. As a result Regulators and Government are reviewing legislation and policies. The data collected in this study will be used to examine if:

Section 1: gender pay gap discrimination in the Financial Sector exists

Section 2: the policies and procedures exist regarding gender pay gap; are senior financial leaders willing to acknowledge the problem?

Section 3: the role of the Trade Union in terms of recommendations on how to close the gender pay gap

The research will also ...