As per reports fromKon Ferry Hay Group, women in India earn as much as 18.8% lesser than her male colleagues. The sole reason behind it is representing women in highest-paying job categories in all sectors. Globally the data is quite reversible, and lack of well-paid job in top level hierarchy comes as the low earning factor for women in the country.
According to PayNet database for global research studies, Out of 8 million job offers in 33 countries, 57,000 job holders belong to India. The following data has been tracked and analysed by gender roles as well as pay scales. In India, the pay scale differs about 3.5% if compared to female. The data provided has been organised via Sweden to South Africa.
Global Reward Expert from Hay Group, Ben Frost opined,Our data shows that when it comes to thinking about pay on the basis of gender, a man and a woman in the same company, doing the same job, will usually be paid nearly the same – but still favouring men by 1.6 per cent.
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He added further that, despite having similar job functions in almost same industries the pay gap unconvincing. Industries like Gas, Oil, Technology, Lifesciences, etc. does not pay well despite being a highest paying sector. Other than this, industries where women are paid well, specifically in hospitality, tourism, education, etc. men are paid higher salaries in comparison to women. In fact in management and executive levels, males and females almost in equal number get forward with better pay scales accordingly.
According to Peggy Hazard, Managing Principal at Kon Ferry Hay Group, “Organisations need to scrutinise the unconscious male bias in the ways they hire, develop, promote and reward employees, and define successful career paths, to ensure they optimise female talent.Only when we have more women in higher paying jobs will we see the gender pay gap begin to close – not only by further equalling pay at similar job levels but ensuring females reach the most senior roles, at the top of global organisations.”