CONDÉ NAST, BURBERRY PAY WOMEN JUST A FRACTION OF WHAT THEY PAY MEN
Posted on by Cameron Tewson
Condé Nast has one of the largest average gender pay gaps between men and women in the United Kingdom. The New York-based media giant – which owns Vogue, W, Vanity Fair, and Allure titles, among others – revealed that on average, its British arm pays women 36.9 percent less than men, or $0.83 for every $1.40 that male colleagues earn. Its report comes as part of gender pay gap reporting mandate set forth by the British government in early 2016, requiring that employers with 250 or more employees must publish and report specific figures about their gender pay gap.
According to a statement from Condé Nast, “There is no evidence of an appreciable gender pay gap across three-quarters of the business.” However, a significant pay gap exists, in large part, thanks to the media giant’s “senior leadership team, many of long standing at the company,” which consists largely of men, even though 74 percent of its workforce is made up by women. In terms of bonuses, 69.1 percent of female employees received a bonus, compared to the 67.5 percent of men. Women’s average bonus pay is 10.6 percent less than male equivalents, though.
In short: Despite having more women than men at every pay quartile, the top “quartile” of employees in terms of salaries is dominated by men, whereas the bottom two salary quartiles are dominated by women. (The lowest salary quartile, for instance, is made up 0f 84 percent women and 12 percent men).
As noted by the New York Times’ Elizabeth Paton, things are not too much better at Burberry, “where women make up 70 percent of the luxury fashion group’s employees, and there is a 26 percent gender pay gap in favor of men, who get higher bonuses, too.”
Speaking about the company’s report last month, Burberry chief executive, Marco Gobbetti, said, “This report shows that we have a gender pay gap in the U.K. The gap is influenced by the fact that we have fewer women in senior positions.” The brand is, however, “committed to narrowing this gap as we work to develop more women leaders to drive the growth and success of our business.”
Filings were due for “public sector organizations” on March 31 and on Thursday for businesses and charities. As of Wednesday night, more than 10,000 British companies had submitted their gender pay gap reports to the British government as part of an initiative to promote equal pay for men and women of similar skills working in similar positions.
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