Investment banking gender pay gap widest at vice president level

The widest pay gap between men and women in investment banking and markets in London is at vice president level, where it reaches 27%.

The gap starts early on in careers with between a 10% and 16% pay gap at analyst and associate levels, but narrows at the managing director level, says Emolument.com, a website which sources salary and bonus data anonymously from individuals.

Women are still paid “significantly less than men in investment banking at all levels of seniority”, Emolument.com says.

The widest gap, at vice president level, reaches 27% and Emolument.com says this coincides with women’s average childbearing age of 29 years.

The gap narrows at managing director level, where women bankers are paid largely in line with their male counterparts.

Still, the proportion of women in investment banking and markets remains small.

The ratio of men to women working in front office investment banking rises from around five to one at the lower levels, such as analysts, associate and vice president, to 17 to one at managing director level.

“Despite the continued focus on pay equality and the drive to increase the number of women in senior roles, our data suggests that the investment banking industry still has a long way to go,” says Robert Benson, chief executive officer of the website.

“The figures reveal a shocking lack of both female representation and pay equality which will do nothing to improve the already poor image of the industry amongst the general public.”

Emolument.com says it has examined salary and bonus data from over 1,836 employees working in front office investment banking and markets jobs in London.

©2013 funds europe

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