Wage gap between genders narrowing
In recent years, the wage gap between men and women has gradually narrowed. Young men’s gross wages are on average approximately 10 percent higher than the wages of their female counterparts. In the age category over 45, the gap may run up to 35 percent.
Average working women earn 81 percent of gross hourly wage of men
The wage gap can be expressed in terms of the gross average hourly wage of women as a percentage of the average hourly wage of men (the so-called Pay Gender Gap). In 2008, for example, the average hourly wage of female employees aged between 15 and 65 was 81 percent of that of men. Among 15 to 35-year-olds, women on average earned 90 percent of men’s wages. In the age categories 15–35, 35–45 and older than 45, women earned 90, 80 and 70 percent respectively of the gross hourly wages of men.
The gender gap is closing slowly. In the period 2006-2008, the gross wage gender gap has narrowed. Over the period 2006-2008, the gap was closing at a rate of 0.4 percent annually.
Average gross hourly wages of women
Wage gap larger in the sector financial institutions than in the sector education
Wage gaps are related closely to the type of industry. In the sector financial institutions, the pay gender gap averaged more than 30 percent in 2008, whereas in the sector education, the gap was just over 15 percent.
In the age category 15–25, women’s wages were higher than those of their male colleagues, but in the higher age groups the gap is rapidly widening. In the sector financial institutions, 55 to 65-year-old women’s wages were more than 40 percent lower than men’s wages. In education, wage differences between men and women were less than 20 percent.
More jobs at different levels, larger pay gap
The considerable gap between the sectors financial institutions and education is partly due to the amount of jobs at different levels and the remuneration system. In the sector financial institutions, men are overrepresented in well-paid jobs, whereas in the sector education, this is not the case.
Average gross hourly wages of women employed in the sectors financial institutions and education, 2008