“ THE BIGGEST DISADVANTAGE WOMEN FACE IS TAKING MID-CAREER BREAKS. EVEN A TWO TO THREE YEAR BREAK FROM WORK COULD MEAN HUNDREDS OF THOUSANDS OF DOLLARS LESS IN RETIREMENT DUE TO MISSED COMPOUNDED INVESTMENT GROWTH.”
SAM BOURGI, ANALYST, INVESTORS OBSERVER
beyond salary comparisons to address the broader, compounding effects of income inequality on lifetime wealth accumulation and intergenerational financial security for women? “It begins by having an honest
conversation about what kind of society we want to have — one that encourages family formation and teaches the value of unpaid work (e.g. taking care of children and the elderly), or one that treats everyone like a robot on a treadmill progressing from point A (age 22) to point B (age 65),” he says. He urges companies and policymakers to think beyond linear employment models and understand the different pressures and components of women’s careers. Companies with globally mobile
teams also have a role to play in addressing gender pay disparities. The challenge is not simply closing a gap on a spreadsheet, it is about reimagining a world of work that values every stage of life equally and recognises that women’s careers are often non-linear and involve breaks for caring and family responsibilities.
76
PROGRESS IN THE UK AND EUROPE Over recent decades, the gender pay gap in the UK and Europe has narrowed significantly, reflecting changing labour market structures, growing public awareness, and a series of legal and policy interventions. However, progress has been uneven and slow, and the persistence of the gap reflects both structural and cultural challenges that have yet to be fully addressed. In the UK, one of the most
visible drivers of progress has been the 2017 introduction of mandatory gender pay gap reporting for companies with over 250 employees. This legislation has improved transparency and placed reputational pressure
on
firms to address disparities in pay and representation. Since the introduction of the reporting requirements, the Office for National Statistics (ONS) has noted a gradual decline in the median pay gap, which stood at 7% in 2024, down from 9.1% in 2017. While modest, this represents progress, especially when viewed alongside increasing female representation in senior roles,
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