Women in India earn 18.8 per cent less than men, higher than the global average, largely due to lack of representation in highest-paying job functions and industries, says a report. According to Korn Ferry Hay Group, women globally earn 17.6 per cent less than men and the figure for India stands higher at 18.8 per cent.
The global study by the group’s PayNet database tracked and analysed gender and pay for more than 8 million employees in 33 countries, including 57,000 job holders in India.
“Our data shows that when it comes to thinking about pay on the basis of gender, a man and a woman in the same company, doing the same job, will usually be paid nearly the same – but still favouring men by 1.6 per cent,” Ben Frost, a global reward expert at Hay Group said, adding that the data shows this very consistently, from Sweden to South Africa. In India, for the similar job levels and functions the pay gap, however, is 3.5 per cent.