![]() There have been growing calls in the startup world to provide more pay transparency on job adverts - which also brought down the adjusted pay gap - although Figures found that only 28% of startups actually did this.īut lawmakers are beginning to act, and a new EU directive coming into effect in 2024 will make it mandatory for companies to provide salary ranges in job adverts. According to data from Figures, the only companies that have eliminated the adjusted pay gap between men and women openly share what everyone’s paid across their workforce. “It's not simply a case of women not asking, but of inherent bias within existing pay structures and philosophies.” What can be done about it? “The foundational issue lies in systemic behaviours that allow pay secrecy and bias to flourish when making pay decisions for men and women,” says Giymah. The pay gap in similar rolesīut the lack of women at the top doesn’t entirely explain the problem - there’s still a pay gap within most seniority levels that Ravio measures.īut while there is research suggesting women ask for less money than men, other studies have shown that women ask for the same amount - they’re just not given it. Sifted found that two thirds of UK unicorns have a gender pay gap worse than the national average in an analysis last year. The issue also extends to late-stage startups and, according to Ravio’s data, tech companies at Series B and beyond have a pay gap of 21%. “That's unlikely to change unless there's external pressure from investors to embed this from the start,” she tells Sifted. “This creates a vicious cycle where more men develop more early startup experience and become strong candidates for future roles.”Įarly-stage startups’ focus on growth and staying afloat means that parity in employees' career progression is often not high on their priority list, says gender pay gap consultant Michelle Gyimah. “More men are given the opportunity to join early-stage companies and take more of the senior positions,” he tells Sifted. This is partly driven by a recruitment problem at early-stage startups - where the gender pay gap is widest - according to Raymond Siems, cofounder and chief product and technology officer at Ravio.
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