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Inequality Gender pay gap exposed at Financial Times

WOMEN at the Financial Times newspaper earn nearly a fifth less than men, according to new figures.

The newspaper, which employs 1,400 staff in Britain, published figures today showing a median pay gap of almost 20 per cent between male and female employees.

The FT also reported that two thirds of its highest paid staff were men and the median gender pay gap for bonuses was at nearly 30 per cent.

The findings are worse than predicted and worse than most other media groups, with the gender gap for FT Editorial increasing over the past six years.

National Union of Journalists (NUJ) reps at FT have launched their own pay survey in response and asked for urgent meetings with senior managers to discuss the data.

The reps aim to push for specific moves to close the pay gap and to address potential problems with equal pay.

In a statement, the primary reason given for the gender pay gap was because the FT has "fewer women than men at senior levels."

FT head John Ridding said: "On equal pay, we’ve done a thorough review and we are assured that employees are paid equally for the same or equivalent work. We would take any claim to the contrary seriously."

The median pay gap at the Guardian is 12 per cent, over 9 per cent at the BBC, 18 per cent at ITN. Channel 4 has the highest median pay gap at over 24 per cent.

The findings come as Equality and Human Rights Commission (EHRC) warned today that it will take enforcement action against companies who do not publish their gender pay gap.

Companies with 250 or more employees are required to submit their pay gap figures to the government's equalities office by April 4.

For public-sector employers the deadline is earlier at March 30.

Employees who ignore the instruction could face unlimited fines decided by the courts.

Figures published so far by 3,745 firms show over 77 per cent have a median gender pay gap in favour of men.

Only 14 per cent of these firms show a pay gap in favour of women and just 8 per cent have none.

EHRC chief executive Rebecca Hilsenrath warned “the clock is ticking."

 

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