Seventh Year in a Row, Female Managers in Germany Out Earn Their Male Pears

Women on the boards of top German companies earned more on average than their male peers for the seventh year in a row in 2021, according to a new study.
Female Managers in Germany Out Earn Their Male Pears.
Female Managers in Germany Out Earn Their Male Pears.IANS

 Women on the boards of top German companies earned more on average than their male peers for the seventh year in a row in 2021, according to a new study.

However, the salary advantage of female top managers in Germany shrank by 17 per cent year-on-year to 348,000 euros ($359,500) per annum as their male peers' salaries rose faster in 2021, the study published by consulting firm Ernst and Young (EY) on Monday showed.

In addition, the proportion of women on executive boards is growing only slowly, reports Xinhua news agency.

"Highly qualified female top executives continue to have a very good negotiating position," EY compensation expert Jens Massmann said, pointing to companies' increased efforts to recruit women to their top management ranks.

The so-called gender pay gap has shrunk in Germany over the past 15 years but remained unchanged last year, according to data released by the German Federal Statistical Office (Destatis) this March.

In 2021, women in Germany earned an average of 18 per cent less per hour than men, the same level as in the previous year, Destatis said.

In 2006, the difference between men's and women's pay in Europe's largest economy was 23 per cent.

"Distributing gainful employment and care work equally is a prerequisite for reducing inequalities in society and closing the pay gap," Lisa Paus, German federal minister for family affairs, senior citizens, women and youth, had said earlier. (SJ/IANS)

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