Female managers narrow pay gap

Female managers have enjoyed seven years of higher pay rises than men

Female managers are catching up with their male counterparts in the pay stakes, according to a survey from the Chartered Management Institute.

In 2003 the pay of female managers increased on average by 5.9 %, compared with 5% for men - the seventh year on the trot women have done better.

The proportion of women in management roles has doubled to 29.6% since 1996.

Overall, female managers now earn just £475 less a year than their male counterparts.

"It is encouraging to see that women's equality in the workplace is getting stronger but there is still a long way to go," said Paul Campfield, director of Remuneration Economics.

However, parity in pay does not necessarily equate to job satisfaction.

The survey revealed that female managers are nearly twice as likely to resign from their jobs than their male counterparts.

The majority of women move voluntarily, with less than 2% leaving because of redundancy or retirement.