Perhaps it’s a holdover from the pandemic, but for working women in the UK, things have changed. Female employment has risen steadily over the years; in the second quarter of 2023, 72.1 per cent of women were working, compared to 52.8 per cent in the early 1970s.
Despite the wider representation of women in the workforce, the gender pay gap is still in evidence, standing at 7.7 per cent as of April 2023. And, according to the Office of National Statistics (ONS) there’s a large pay gap differential between employees aged 40 years and over, and those under 40.
The earnings gap is at its widest for women aged 50 to 59, so perhaps it is no surprise that senior roles experience a larger gap in terms of pay. Now, a new Working Ambition Survey of 1,000 women has uncovered some other interesting findings.
Seventy percent of respondents say that they are ambitious about their careers, yet only 48 per cent would say so out loud. British women report a lack of self-belief as the biggest barrier to their success (46 per cent), along with a lack of opportunities (32 per cent), and financial barriers (30 per cent).
According to other data, what women really prioritise when it comes to work is flexibility, with 58 per cent saying a flexible work schedule is crucial, compared to only 42 per cent of men. That’s not too surprising given the fact that women tend to take on more caring responsibilities outside of their working hours––whether that is for children or older family members.
As a result, achieving a work-life balance is highly prized by women too, with a preference for a four-day work week emerging. The hybrid work models that have emerged since the Coronavirus crisis are now the leading choice for most women.
Further, the Working Ambition Survey also found that for women, their success isn’t defined by job titles or pay grades; rather they value happiness, flexibility and a sense of purpose.
Take a look at your career
Given the fact it’s January, many Brits of all genders are taking a look at their careers and assessing whether they want to be in the same position in 12 months time. If flexible working and better benefits are on the cards for you this year, it could be the right time to make a job move.
If that’s the case, then The London Economic Job Board is the perfect place to start your search. It contains thousands of jobs across London and further afield, like the three below.
Portfolio Director for Financial Services Sector (Banking & Capital Markets), Version 1, London
Having experienced significant growth, Version 1’s Digital, Data and Cloud business is expanding, and the company is hiring a Portfolio Director for the Financial Services Sector with a particular focus on banking, capital markets, and insurance. You will be accountable for the successful delivery of banking and capital markets engagements (consulting engagements, scoped projects, and/or managed teams), and for the profitable growth of the sector within Version 1. The role comprises strategic market engagement, customer relationship management, delivery management and people development. Interested? See the application criteria here.
Global Account Manager – Banking, Salesforce, London
Salesforce helps companies across every industry blaze new trails and connect with customers in a whole new way. The company is seeking a Global Account Manager – Banking for its Financial Services team, where you’ll play a pivotal role in establishing and maintaining end-to-end relationships with customers. You will work closely with the customer as a trusted digital advisor to deeply understand their unique company challenges and goals, and will advise customers’ on the Salesforce Platform to evangelise solutions that will help reach their business goals. To apply, you should be curious and driven, know about technology, and have solid business-to-business sales and account management experience. Apply for this role now.
Finance Analyst, Live Nation, London
Live Nation is part of Live Nation Entertainment which is the world’s leading live entertainment company, which includes Ticketmaster, Live Nation Concerts, LN Media and Artist Nation Management. A Finance Analyst to join the UK and Ireland head office finance team is now required, where you’ll be reporting to the head of FP&A. You will need a keen eye for attention to detail when assisting in the preparation of the business’ consolidated actual, forecast, and budgeted reports, and for regularly preparing key-metric analysis for the US head office team, to be used for strategic decision making to drive the business forward. A strong finance analytical background is required, as is the need to be forward thinking with a positive attitude to change. Get more details here.