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The Gender Pay Gap in the Financial Sector: Where Do We Stand?

In: Women in Financial Services

Author

Listed:
  • Giuliana Birindelli

    (“G. d’Annunzio” University of Chieti-Pescara)

  • Antonia Patrizia Iannuzzi

    (“Aldo Moro” University of Bari)

Abstract

This chapter addresses the issue of the gender pay gap within the financial system. To this end, it first reviews the main treaties and legal acts that formalise the principle of equal payEqual pay for men and women from the Treaty of Rome to the main European directives. It then analyses the theoretical and empirical studies on the issue, which for the financial sector are still in an embryonic phase. The second part of the chapter focuses exclusively on the financial system, analysing the evolution of the gender pay gap over time and the differences across geographical areas and economic sectors. The assessment primarily addresses data collected by Eurostat and the European Banking Authority (EBA). It also provides a focus on the gender pay gap in the UK banking sector. Finally, the chapter explores the most recent laws on the gender pay gap passed in several European countries and the novel “gender neutrality principle” of banking remuneration practices. The chapter ends by proposing some actions that need to be taken by banks to close the existing gender pay gap.

Suggested Citation

  • Giuliana Birindelli & Antonia Patrizia Iannuzzi, 2022. "The Gender Pay Gap in the Financial Sector: Where Do We Stand?," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Women in Financial Services, chapter 0, pages 153-189, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-3-030-93471-2_5
    DOI: 10.1007/978-3-030-93471-2_5
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