We recently did a quick straw poll of the office to find out what our team would do with an extra £8,000. It’s fair to say we got a pretty wide variety of responses. These ranged from the sensible (“Get out of my overdraft and put down a deposit on a house”) to the forward-thinking (“Invest in Crypto”) to the non-committal (“Spend half, save half”) to the life-changing (“Move to California”). Some simply said they’d go on holiday. With the weather being what it has been, I’m sure we can all sympathise with that.
In the same way that an £8,000 salary increase would have a positive effect on someone’s life, having £8,000 taken away would probably have quite a significant impact too. Yet that’s the challenge facing many women in science today; our recent Salary Survey revealed that the gender pay gap in science is £8,254.
We conducted some further research among science professionals in the UK to help us get our heads around this figure – and to find out how it might affect people in the industry. It turns out that 79% of science professionals would have no choice but to leave their jobs if they got paid £8,000 less.
65% of male scientists said they would leave their current role. 25% within three months, 16% within 6-12 months. Losing 41% of your male staff within a year is some serious attrition. Although gender pay gap reporting legislation has yet to have the impact we’d all like, it has certainly served to highlight the extent of the problem – and will hopefully start to solve it as it becomes more embedded into wage structures.
The SRG Salary Survey is the most in-depth salary and market trend report in the science industry, featuring the latest salary data, the biggest market trends and the deepest insights. Request a free download here.
At SRG, we’re working hard to help increase awareness. But awareness is only the start of the battle. If together we can finally help to bring about genuine gender pay equality, that’ll be worth a lot more than £8,000.
If you’d like to talk to us about the gender pay gap or about how we can help you find the best jobs or the best people on the market, contact us now.
For more fascinating insights into the ever-changing world of the life sciences sector, stay tuned to all SRG Blogs.