The gender pay gap is more significant for women in leadership roles due to a lower trajectory for women in these roles, while the trajectory in frontline operational roles is closer.
Women in senior roles are also, globally, likely to have a larger wealth accumulation gap at retirement – 62% of men’s wealth on average – compared to 89% for frontline roles.
Although this report centres on wealth accumulation, it follows a recent analysis that shows that Canadian women have less retirement income than men.
Manjit Basi, senior director, Integrated & Global Solutions, WTW, said that the stats are startling and need addressing.
“It’s imperative that activities around gender diversity, equity and inclusion broaden to look at economic wealth at the end of women’s working careers,” she said. “Pay is a fundamental factor that underlies the gender wealth gap, and while addressing the gender pay gap will partially close the wealth gap, it won’t eliminate it entirely.”
