gender pay inequality
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Latest property news
RICS: Men paid £11k more than women
Salaries for UK property professionals remained robust in 2017, according to the latest survey by RICS & Macdonald & Company, but the gender pay gap has increased. Male property professionals earn, on average, £11,113 more than their female colleagues (£54,931 versus £43,818). The gap is evident across most age groups and greatest for those aged 46-55, where the difference in average salary is 25.7 per cent. Of those who received a pay rise in 2017 in the industry the average increase was 7.7 per cent (7.1 per cent in 2016) – far above UK wage inflation at 2.7 per cent. Taking the sample as a whole, the industry experienced an increase of +7.2 per cent (2016: 6.5 per cent) with 32 per cent also believing that their pay and benefits will be positively affected by market conditions over the next 12 months. Men aged 46-55 are paid 25.7% more than women of the same age. The average salary in 2017 is £52,362; a 4.5 per cent decrease compared to 2016, which may be explained by changes in the demographics of the survey this time around. Respondents with 10 years experience or fewer rose by 9 per cent (from 31 per cent to 40…
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Agencies & People
Female property professionals lag behind on pay
There can be no doubting the advances that women have made in recent years when it comes to professional development within the property sector, but when it comes pay, it is hard to get away from the fact that they earn less. The largest and most comprehensive salary survey of 7,466 UK surveying professionals, conducted online between December 2015 and January 2016 by the RICS and Macdonald & Company, has revealed that women starting out in property are hardest hit by the gender pay gap. Salaries of UK surveying professionals are now at their highest in nine years following an average year-on-year rise of 7.1 per cent in 2016, but the gender pay gap for new entrants now stands at an astonishing 28.7 per cent. Overall, the gender pay gap continues with male property professionals earning £57,509 pa, which is £7,000 more than on average than female counterparts at £45,689. While this gap has closed slightly, from 27 per cent last year to 25.9 per cent in 2016, the discrepancy is evident across all age groups and is most acute for those aged between 18 and 22. Those working in Greater London continue to earn, on average, the most at…
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