Women are Compensated 30% Less than Men in the UK Financial Sector
JoTo PR client, Chargebacks911, was highlighted in a Global Finance Magazine article titled, More Women Lead, Yet Still Lag.
Corporate leaders have slowly warmed to the idea that diversity contributes to the success of executive teams. “The share of women sitting on the boards of Fortune 500 companies has more than doubled, from 9.6% in 1995 to 22.2% in 2017,” says the Pew Research Center’s 2018 report on Women and Leadership. Nearly three-fourths of companies worldwide (73.5%, according to MSCI) now have at least one woman on the board.
To date, the most high-profile efforts have centered on the boardroom. “Executives set the norms within a company’s culture,” says Monica Eaton-Cardone, CIO and co-founder of risk-mitigation-services firm Global Risk Technologies. “When you have more diversity in the boardroom, you are likely to have more diversity throughout the company.” A 2018 study by Questback shows the persistence of the gender pay gap—even under quotas that strengthen women’s representation. The UK financial sector, for example, pays men on average 30% more than women—the largest gap of any business sector. Such gender barriers may become more powerful as competitive barriers.
An acclaimed entrepreneur, speaker and author, Monica Eaton-Cardone is widely recognized as a thought leader in the FinTech industry and a champion of women in technology. She established her entrepreneurial credentials upon selling her first business at the age of 19. When a subsequent eCommerce venture was plagued by revenue-leeching chargebacks and fraud, Eaton-Cardone rose to the challenge by developing a robust solution that combined human insight and agile technology. Today, her innovations are used by thousands of companies worldwide, cementing her reputation as one of the payment industry’s foremost experts in risk management, chargeback mitigation and fraud prevention. As CIO of Global Risk Technologies and COO of Chargebacks911, Eaton-Cardone leverages her global platform to educate merchants on best practices in fraud prevention and to spotlight the competitive and economic advantages women can bring to the technology workforce. Her nonprofit organization, Get Paid for Grades, invests in students to inspire a new generation of innovators. Get to know Eaton-Cardone at http://monicaec.com.
Global Finance Magazine covers evolving economic situations in emerging and stable markets and updates on risk management, mergers and acquisitions and project finance.
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