Female managers have gained bigger pay rises than their male counterparts for the 10th year in a row, a survey shows.
Pay for female managers is gradually catching up
A study of more than 22,000 managers by the Chartered Management Institute (CMI) found that average earnings for women rose by 6.7% last year.
That was more than the average 5.6% rise for male managers.
But despite a decade of bigger pay increases, the women managers were still being paid on average £5,147 a year, or 12%, less then the men.
The survey found that the average salary, including bonuses, for female managers rose in 2005 to £43,521, while men earned £48,668.
The pay gap was even bigger at director level with female directors earning £164,762.
That was £40,588 less than their fellow board members who happened to be men.
This was despite the fact that female directors saw pay increases last year of 9.2%, whereas male directors got just 5.8%.
"Some inroads appear to have been made in the workplace. However, inequalities are still evident in pay packets and promotion," said Jo Causon of the CMI.
Small is better
The survey's findings suggest that women managers are more highly valued if they work for smaller employers, defined as those with a turnover of less than £25m a year.
Those employers offered their female managers larger bonuses than men, typically £7,207 last year compared to £5,148 to male managers.
Partly as a result of this, it was in these organisations that women directors were in fact paid more than male board members.
The average pay for a woman director was £127,369 whereas the male ones received just £116,511.
The very different career paths of female managers was also highlighted by the survey.
It revealed that the proportion of women among managers drops off severely with age.
Those aged 29 or less take up 55% of all management roles but this proportion declines through the age groups so that by the age of 50 only 11% of managers are women.