In the Money Marketing article Weighed Down: Figures Reveal Full Extent of Gender Pay Gap Across Investment Profession, he stated that the gender pay gap legislation had “provide[d] a stark reminder just how far the investment industry has to go until women are on an equal footing with men”.
Asked by journalist Stephen Little whether the fund management industry is doing enough to confront pay disparity, Bev Shah commented: “Initiatives are important, but so is engagement. There is no point having innovative initiatives in place if employees do not know about them or take them up. These are great for PR but will not improve gender pay gap numbers in the short or long term.”
Bev talked about the campaigning work of City Hive in promoting the asset and investment management sector as a viable option to girls in schools, and how this ties in with the broader national debate about encouraging greater gender parity in STEM subjects at and higher further education.
Bev commented in the article: “A quick closing of the gap will also be a worry as we don’t have the talent pipeline in place from a numbers perspective. So promoting and hiring just because of gender is detrimental. No matter what, the job should always go to the best candidate on merit.
“What we need to ensure is the women who are eligible for promotions and senior positions are seriously considered along with male counterparts. This is what will make a difference to closing the gap slowly.
“I know there are many studies that show a business case for more women in the workplace and improvements to the bottom line. This is a happy outcome but should not be the reason for evening up the scale. Gender equality is a good enough reason.”
Read the full article here: https://www.moneymarketing.co.uk/weighed-new-data-sheds-light-investment-industry-gender-pay-gulf/