Female board members in Europe are paid 9% less than male counterparts, a rise of two percentage points from 2011, according to research by Hay Group.
Its Non-executive directors in Europe report found that more women are being appointed as directors in Europe, with only one (Italy) of the 12 European countries surveyed having a 90% or greater male presence on the board in 2012. In 2011, seven out of 12 exceeded 90% male board presence.
However, it found the gender pay gap between male and female board members has risen from 7% in 2011 to 9% in 2012.
The report also found:
- Median policy pay for non-executive directors remained static in all the countries surveyed except Sweden.
- Median actual pay for non-executive directors rose from £71,500 in 2011 to £75,200 in 2012, but dropped for non-executive chairs from £237,900 in 2011 to £214,800 in 2012.
Carl Sjostrom, director of executive reward for Europe at Hay Group, said: “Despite more women being appointed to European boards, the opportunities offered to them when they get there are clearly still lacking.”