British women have made significant progress in the business world, but female CEOs of FTSE 100 companies still earn 23,5% less than their male colleagues, as reported by The High Pay Center.
In 2022, male CEOs in the FTSE 100 earned an average of £4,3 million, while women earned an average of £3,4 million, with only 11 women holding senior CEO positions.
One factor contributing to this inequality is that many female CEOs lead smaller companies, accentuating the problem of gender pay inequality.
Furthermore, experts suggest that another relevant aspect that accentuates this inequality is that women may negotiate less aggressively due to their (generally) more accommodating personalities, as reported by research from the American Psychological Association.
To address this inequality, some companies, such as the organization Powerful Women, are working to increase awareness and representation of women in executive positions and boards of directors. This not only promotes diversity but also encourages women to enter the industry and aspire to CEO positions.
Diverse leadership is associated with better financial performance and innovative business strategies, making it a key objective for future success.