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Women in the industry lag behind men on pay

Women working in financial services are trailing behind men in the pay stakes.

A survey conducted by City-based headhunters and acquisition brokers

Seers, entitled Women in Insurance, reveals that women are paid 13 per cent

less than men on average.

However, women are climbing further up the corporate ladder than before

and, once in senior positions, they tend to hold their own in terms of

salary and benefits but many still quit, frustrated at glass ceilings

barring their progress.

Seers group director and former director of a Lloyd&#39s brokerage, Rosemary

Doncaster, says: “Women become so frustrated by the glass ceilings that

they decide to leave the industry. This is especially prevalent in

30-somethings who finally tire of the testosterone-charged atmosphere.”

Of the industry women questioned, only 7 per cent earned more than 50,000.

Pretty Technical Partner-ship partner Kim North says: “Historically

speaking, financial services has always been male-dominated but in

qualitative research women are better financial advisers because they are

less driven by sales targets.

“In terms of product development, women are much more ethically minded and

are on more of an even keel than men in the more touchy-feely areas of

healthcare and ethical investment. The future of our industry is definitely

female.”

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