’50 year old women earn over £8K less than men on average’

Pensions, mature lady

 

The average 50-year-old woman working full-time will earn £8,421 a year less than the average full-time working man, according to new analysis from the TUC.

The research shows that women working full-time earn less than men annually at every stage of their careers from as soon as they turn 18.

The analysis reveals that the average young woman aged 18-21 working full-time starts her career on the back foot financially, earning £1,845 less than her male peers. Women aged 22-29 working full-time can expect to earn £2,305 less than full-time working men their age, says the TUC. The gap in annual earnings more than doubles by the time women hit 40, leaping up from £3,670 a year at age 30 to £7,400 a year which the TUC believes is in large part due to women having children and often going part time – in low paid jobs or jobs with little career progression.

The report says the pay gap widens further for women in their 50s, hitting £8,421 a year, “as the longer-term impacts of getting stuck in lower paid work with few promotion prospects are felt and caring responsibilities – including for older relatives – continue to have an effect”.

TUC General Secretary Frances O’Grady said: “Women suffer a huge pay penalty over the course of their lives, starting as soon as they set foot on the career ladder.

“Having children and caring responsibilities has a massive impact on a woman’s earnings. Far more needs to be done to help mums get back into decent, well-paid jobs after they have kids – and to encourage dads to take on their share of caring responsibilities.

“And we are crying out for higher wages in jobs predominantly done by women, like childcare and social care. Until we do, women will continue to lose out financially and many will have to make the choice between have a family or a career.”



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