[Germany] Female managers outearn male peers for seventh year in a row

According to an Ernst and Young (EY) study, women on the boards of top German companies earned more on average than their male counterparts for the seventh year in a row in 2021, NewsGram reports.

However, the EY study - published on November 14 - revealed that 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 while their male peers' salaries rose faster in 2021.

In addition, the proportion of women on executive boards is only slowly increasing, according to reporting from Xinhua news agency.

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

The gender pay gap has shrunk in Germany over the past 15 years but it remained unchanged in 2021, according to data released by the German Federal Statistical Office (Destatis) in March.

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

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

In earlier comments on the issues Lisa Paus - German federal minister for family affairs, senior citizens, women and youth - said, "Distributing gainful employment and care work equally is a prerequisite for reducing inequalities in society and closing the pay gap." 

Source: NewsGram

(Quotes via original reporting)

According to an Ernst and Young (EY) study, women on the boards of top German companies earned more on average than their male counterparts for the seventh year in a row in 2021, NewsGram reports.

However, the EY study - published on November 14 - revealed that 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 while their male peers' salaries rose faster in 2021.

In addition, the proportion of women on executive boards is only slowly increasing, according to reporting from Xinhua news agency.

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

The gender pay gap has shrunk in Germany over the past 15 years but it remained unchanged in 2021, according to data released by the German Federal Statistical Office (Destatis) in March.

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

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

In earlier comments on the issues Lisa Paus - German federal minister for family affairs, senior citizens, women and youth - said, "Distributing gainful employment and care work equally is a prerequisite for reducing inequalities in society and closing the pay gap." 

Source: NewsGram

(Quotes via original reporting)