Insurance Salary Survey 2018
A review of the salary market for insurance in the UK, including what you should be getting paid, what the CEOs are earning and how the industry stacks up on gender pay
Matt Scott
I am an award-winning multimedia journalist and editor specialising in data-led journalism covering the business and finance sectors. I have particular expertise in management and leadership issues, entrepreneurship, SMEs, general insurance and pensions and employee benefits and frequently write about wider business issues.
4 in 5 managers have witnessed gender discrimination or bias in the past year
A CMI survey has found that inappropriate remarks, gender bias in recruitment and promotion decisions, and gender inequality in pay and rewards are still major barriers to gender equality in many organisations.
The survey of 851 UK managers found that four in five managers have witnessed some form of gender discrimination or bias at work in the past 12 months.
Asked what behaviours they had personally witnessed in the previous years, 50% of managers pointed to gender bias in recruitment/promot
Are men the key to achieving gender diversity? Have your say in our latest survey
The UK will need two million new managers to meet predicted growth, according to the latest research from CMI, but hundreds of thousands (possibly 500,000) of female managers are disappearing from the workforce.
And with male managers still 40% more likely to be promoted than women, the opportunities for women to succeed in management are often limited compared to those afforded to their male counterparts.
CMI’s own research has revealed that for managers who have stayed with the same employer
All you need to know about the new gender pay gap reporting regulations
CMI has welcomed the Government’s publication of its gender pay gap reporting regulations, hailing it as “a big boost to productivity”.
The reporting regulations, which come into effect in April 2017, will require private companies with 250+ employees to disclose how many men and women they employ at every quartile, and how much they pay them.
The move will affect 8,000 employers, requiring them to publish their data on their website, as well as submit it to an online Government database open
Equal Pay Day: Women working for free until the end of the year
From today onwards, women across the country will be effectively working without pay as a result of the gender pay gap.
Calculated using the mean full time gender pay gap, the Fawcett Society has named 10 November 2016 as equal pay day (EPD) – the date at which men have already earnt the annual salary of a woman in an equivalent role.
EPD 2016 falls only one day later than last year, which means the pay gap is closing, but at the current rate of progress it will take over 60 years to close the
Accounting 2020
Brexit. Real-time advice. Instantaneous settlements. A tough jobs market. The need to show your personality, but the chance to be close to the commercial action. Life will be exciting for the accountant in 2020. Here are six visions of our profession's future.
Tackling the gender pay gap and the new reporting requirements
British businesses have failed to make any progress on closing the gender pay over the last 12 months, with the 2016 Gender Salary Survey from CMI and XpertHR revealing that on average men are paid 23.1% more than women, compared to 22.8% in 2015.
“Forty years after the Equal Pay Act, how can that be the case?,” CMI chief executive Ann Francke asked. “The answer lies in the fact that the gap, in most cases, is not the result of unequal pay. Instead, it reflects the failure to achieve a balance
Lack of promotions for women fuelling the gender pay gap
Men are 40% more likely than women to be promoted into management roles, according to the latest research from CMI.
The 2016 Gender Salary Survey from CMI and XpertHR, which analysed more than 60,000 UK employees’ salary data, found that 14% of men in management roles were promoted into higher positions over the past 12 months, compared to just 10% of women.
But this trend is not a new phenomenon, with the CMI research finding that for managers who have stayed with the same employer for the la
Meet the Chartered Manager: The self-made manager
Climbing to the top of the career ladder after starting from the bottom rung is no mean feat.
Infectious optimism and a commitment to professionalism have underpinned Laura Beswick’s remarkable rise. When she first applied for her administration role at professional and academic education provider BPP in 2007, Beswick was not excited by the job description.
But after just a few minutes, she was swept up by her interviewer and future manager: “The lady interviewing me was great, and she would b
Rallying call for FTSE bosses to push for gender equality at work
Top executives from leading FTSE companies are set to meet in London to launch a fresh review aimed at improving female representation in leadership positions of British business.
Lead by Sir Philip Hampton, chair of GlaxoSmithKline, and Dame Helen Alexander, Chair of UBM, the review will plot a path for getting more women through the executive talent pipeline and has set itself the target of all boards being at least 33% women by 2020.
Its main focus will be on ensuring the very best of femal
Charlotte Proudman: Why I took a stand against sexism
In September 2015, Charlotte Proudman unexpectedly found herself at the centre of a sexism row after calling out one of her peers for making sexist comments in a message to her on business networking site LinkedIn.
Proudman decided to take a stand, sharing the exchange on Twitter, and in response was subjected to horrible online abuse, being labelled a ‘feminazi’ and receiving rape and death threats through Twitter and email.
But how did she bounce back from the furore that enveloped her and s
New research ranks major European nations on boardroom gender diversity
The proportion of women on European boards has increased significantly since 2011, according to the latest research from European Women on Boards (EWoB) in partnership with governance firm ISS.
The study of companies making up the STOXX 600 found that women now make up 25% of board members across Europe, up from 14% in 2011.
The number of boards with no women has fallen from 21% in 2011 to 5% in 2015.
The largest reason for this improvement, however, has been as a result of an increasing numb
FTSE gender diversity ‘inexcusable and unacceptable’
Individual FTSE companies are failing to meet their targets on gender diversity despite headline reports of progress among the UK’s biggest companies.
A report from the Equality and Human Rights Commission (EHRC) found that 61% of FTSE 350 and 45% of FTSE 100 companies failed to hit their targets of having 25% female representation at board level.
The EHRC labelled the variation in individual company performance on this measure as ‘inexcusable and inacceptable’ and says ‘too few companies are
How flexible working can abolish the gender pay gap
“Flexible working for all lies at the heart of addressing the gender pay gap.” That’s the key message from a Women and Equalities Committee report investigating the gender pay gap in British businesses.
The report found that women in the UK are currently paid an average of 19.2% less than their male counterparts, despite women being ‘better educated and better qualified than ever before’.
A lack of flexible working opportunities and a high concentration of women in part-time work was identifie
Gender parity could boost global GDP by $28 trillion
Closing the gender pay gap could boost global GDP by $28 trillion over the next 10 years, according to estimates from McKinsey, a 28% increase on current GDP levels.
In the UK, the effect of gender parity could improve the country’s GDP by as much as £0.6 trillion.
Vivian Hunt, McKinsey & Company managing partner for UK & Ireland, said: “Women make up 50% of the global working-age population but contribute about 37% of the world’s GDP – we estimate that fully bridging the gender gap could prod
Government to publish gender pay gap league tables
Employers performing poorly on gender parity will be highlighted in sector-based league tables under new reforms announced today by the government minister for women and equalities, Nicky Morgan.
The announcement builds on plans first revealed by the Prime Minister last year to force companies with over 250 employees to publish their gender pay gap and bonus pay gap details. The new reforms will also require companies to publish how many women and men are in each pay range.
To highlight where
The ‘barrier bosses’ standing in the way of gender equality
A small but powerful group of "barrier bosses" are halting progress towards gender equality, according to new research from the Fawcett Society.
The survey of more than 1,400 recruitment managers found that they were more than twice as likely to be against equality of opportunity than the general population, and one in seven believed they would lose out if men and women were more equal.
25% of the men and women questioned said they believed a more equal society would not be better for the UK e
How BBC News is supporting women in the workplace
The Davies Review found in October that the number of women serving on FTSE 100 boards had more than doubled in just five years, meaning that women now take up over a quarter of seats at the UK’s leading companies.
Despite this, true gender equality is still some way off and Lord Davies has now recommended a new target for 33% of directorships to be held by women, across the entire FTSE 350, by 2020.
At BBC News, a group of women news workers have already taken matters into their own hands and
Inspiring Women: how you can break the ‘glass pyramid’
The glass ceiling is an all too common concept when it comes to gender equality in the workplace, but CMI chief executive Ann Francke has a new notion – the glass pyramid.
Chairing a panel discussion at the 2015 Inspiring Women in Business Conference in London, Francke described her glass pyramid and how it represented the challenges facing women in business.
“The majority of university leavers and junior managers are female, and that’s true in most professions,” she said. “When we get to the
Workplace discrimination: women and refugees most seriously disadvantaged
Prime Minister David Cameron has announced changes to use name-blind CVs in graduate job applications in an effort to reduce discrimination.
But with gender inequality an enduring problem and refugees still pouring into Western Europe, does more need to be done to stop discrimination in the workplace?
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