Although South African companies are not required by law to report on the gender pay gap, many organisations have started taking steps to identify pay disparities at all levels, says PwC.
“Many companies have also adopted a long-term view to ensure that diversity and, in particular, gender pay inequality, is addressed and reported on.
“Overall, we are seeing more transparency in reward programmes, as well as increased scrutiny of performance and bonus outcomes by gender. There is also a renewed focus on the comparison ratio between female pay and the midpoint of the pay band against male employees,” it adds.
A survey by PwC considered the remuneration data from 550 organisations and more than 4 000 senior managers and executives.
The data indicates that 61% of females are remunerated below the median of the sample in comparison to 39% of males.
In contrast, 63% of males are remunerated above the median in comparison to 37% of females in the sample.