Based on 2015 earnings figures, women working in accountancy take home £67,680 a year on average, while men are paid £84,970. When it comes to bonuses, women are awarded £8,260 on average, 37% lower than the £13,080 paid out to men. Basic salaries are slightly more comparable, with women earning £59,420 and men earning £71,890.
It means women in accountancy take home a salary that is worth 83% of their male colleagues' annual basic pay
Accountancy however does fare better than the UK as a whole, where the pay gap is 19.2%, with women earning approximately 81% of a man’s salary.
And, the research shows, the pay gap is shrinking as overall remuneration packages for women in accountancy increase. Between 2013 and 2015 the basic salary for women increased from £57,650 to £59,420, while the equivalent for men dropped from £72,860 to £71,890.
The research follows the announcement that companies employing more than 250 people will be required to publish the details of their pay gap by 2018.
Dave Way, Managing Director at Marks Sattin, highlighted that the pay gap is often starker at more senior levels, and said that new disclosure rules could encourage firms to address some of the reasons behind the gap in their workforce.
He said, “Our research is promising for accountancy as it shows the pay gap is closing. The imperative for large companies to publish their gender pay gap from 2018 should galvanise further positive action and internal programmes to drive change.
“The accountancy industry itself is making strides toward equality, for example industry leader Deloitte spearheaded the issue last year by publicising its gender pay gap in advance, before it is compulsory to do so, and also attracted praise for promoting a swathe of talented women to partner level.”