Hay Group: Major increase in female top CEO's

Last year, 17% of board members across Europe were female, compared to 11% the year before. With this, the share of women in top positions has drastically risen. Contrary to this, the salary gap between women and men has increased further. That is what has been concluded in a research by consultancy firm Hay Group.

Salary differences

The consultants calculated that female board members at European organizations were paid 9% less than their male colleagues last year. Male directors typically received £83,747, while women took home £73,162. One year earlier that gap was only 7%. In Italy there even was a salary gap of 22% last year. The differences in salary, according the consultancy firm, have something to do with the fact that women are still not part of the best paid and strategically crucial board functions.

Scandinavia most woman-friendly

The board committees of Scandinavian organizations show most diversity. Norway is listed number one with a total share of 38%. “That is not surprising, because of the fact that Norway already had a quota for female presence in board committees ten years ago.” said Hay Group. “But also in Sweden and Finland where no quota is established, the presence of females in board committees has increased with 28% last year, especially under public pressure and attitudinal changes.