The topic of the “Gender Pay Gap” has been coming up again and again for several years. But how big are the differences at the executive level?
Highest median income
On average, women earn significantly less than their male colleagues – even at manager level. But there are industries in which female managers also receive high salaries. A 2020 study by Lohn.de took a closer look at the various industries and found that women in the biotech and pharmaceutical industries have the highest salaries. Accordingly, the median income of a female manager in the biotech industry corresponds to around 117,000 euros gross per year. For a comparable position in the pharmaceutical industry it is 110,000 euros. Women in management positions in the insurance industry also receive a similarly high salary. They have an average median income of 105,000 euros per year. Female managers in the hotel and hospitality industry are at the bottom of the rankings with around 47,000 euros gross per year. At 50,000 euros per year, the median income for women at management level in retail is similarly low.
Men still receive higher salaries
While the study determined the highest salaries for women in management positions, the results also revealed that, despite their often considerable income, female managers still earn significantly less than their male colleagues. The study also found that the reduced earnings of female managers are often smaller than the average for all employees. The gap for managers is 20.22 percent, while for all employees it is 23.54 percent. The study further showed that female specialists earn on average 18.91 percent less than their male colleagues. Salary.de also took a look at the different pay between non-academics and academics and found that women without an academic degree are paid an average of 14.35 percent lower salary, while the figure for female academics compared to men is even 22. 03 percent. According to the Federal Statistical Office, the earnings gap in 2023 was 18 percent, regardless of management responsibility.
Two industries surprise with results
In its study, Lohn.de was not only able to show major differences, but also a surprise: there is a widespread convergence of incomes in the insurance industry and plant engineering. At just 4.2 percent and 2.4 percent, respectively, the differences in the income of female and male managers are comparatively much smaller. In contrast, the salary differences in retail, for example, are 29.7 percent. According to Lohn.de, male bosses earn around a third more than female bosses.
Editorial team finanzen.net