Salaries for women in finance roles 'growing faster than for men'

Research by a recruitment company finds that average pay for women in charity finance roles rose by 4.1 per cent last year, but by 2.4 per cent for similar men

Salary growth for women working in charity finance roles far outstripped that for their male counterparts last year, new figures show. 

Research conducted by the recruitment company Robertson Bell found that the average rise in earnings for women in charity finance positions was 4.1 per cent in 2019, compared with 2.4 per cent for men. 

But the study, which analysed results from more than 1,000 respondents, found that overall salary growth among charity finance professionals almost halved last year. 

Researchers found that salary growth was down from 6 per cent in 2018 to 3.2 per cent last year.

The company found that, among charities with annual turnovers of less than £10m, the average salary for a permanent senior manager in finance was £67,000, while a mid-level manager was paid £44,000 on average, with non-management staff receiving an average of £31,000. 

Stuart Bell, chief executive of Robertson Bell, said the company’s data showed a widening salary gap between mid and senior-level candidates who worked both from home and in the office and those who were purely office or home-based, with those who were able to work in both locations being paid more. 

“This suggests that an increasing number of employers within the sector are embracing and even encouraging more flexible working, and this might be playing a part in the rise in average earnings among women,” Bell said.

Despite the fall in salary growth, pay packages were still being pushed up because demand for talented staff was high but the availability of suitable people was low, he said. 

“Against this backdrop, it follows that finance professionals at all stages of their careers recognise that the shortage of available skills means that employers will increase average earnings in a bid to attract the talent they need to fill the roles they have,” said Bell. “That’s why so many people are open to new moves.”

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