Female FTSE 100 directors earn 74 per cent less than their male counterparts, with an average pay of £245,000 compared to £935,000, research by Mattison Public Relations found.
Women make up 14 per cent of the FTSE 100 board executives, with 34 of the 238 executive positions on FTSE 100 boards. They get an average 4 per cent pay rise of £9,000 compared with a 7 per cent rise of £59,000 for men.
The gender pay gap for FTSE 100 board members has increased since last year by 1 per cent. The gap amongst FTSE 100 directors is higher than the gender pay gap in the UK overall, with women receiving an average 15.4 per cent less pay than men in the broader job market.
The significant boardroom pay gap is due to men being picked for most of the higher-paid executive director roles, Mattison said.
In lower-paid non-executive roles, female directors are also paid less than men. Women non-execs received £101,000 on average last year, while male non-execs were paid £166,000.
Maria Hughes, Director at Mattison said, “Businesses want to communicate their commitment to diversity but excluding women from executive board positions isn’t going to do that in 2022.”
The CEO of GlaxoSmithKline Emma Walmsley is the highest paid female director in the FTSE 100 and is the only woman to feature in the 50 highest paid directors in the index.