Female bosses losing out as their pay rises just 1.2 per cent
Male chief executive pay rockets 4.8%
The pay of male housing association chief executives has rocketed compared with their female counterparts.
Payments to male chief executives shot up by 4.8 per cent in 2011/12, according to Inside Housing’s annual salary survey. In comparison female chief executive pay rose by just 1.2 per cent - way below the level of both the consumer and retail price indexes which averaged between 4 and 5 per cent this year.
The survey of the heads of the UK’s 100 largest associations, emphasises another gulf between the genders at the top level - just 16 women run organisations that make the list.
Debra Constance, co-founder of networking group Women in Social Housing, said the figures suggest there is ‘something holding women back even at executive level’.
‘I don’t think we should accept it,’ she said. ‘It is about organisations understanding the worth of having a woman.’
Overall payments to all 100 chief executives, which include salaries and bonuses, rose by 3 per cent. But some chief executives experienced jumps of more than 20 per cent in the amount they were paid. David Cowans, chief executive of 61,978-home Places for People, was the best rewarded chief executive. His total pay soared by 27 per cent to £363,498 in 2011/12.
Michael Gelling, chair of the Tenants’ and Residents’ Organisations of England, said the size of some of the pay packages meant some chief executives were ‘so far removed from the reality of how their tenants are living, it is immoral really’.
But associations argued that their chief executives’ pay is set by independent remuneration committees and is benchmarked against similar sized organisations.
Overall pay comparisons between male and female chief executives are made difficult by the fact that there are so few women in the top 100. If the best paid woman - Anchor’s Jane Ashcroft, who picked up £317,500 - is removed from the list the average pay of the female chief executives surveyed falls by £10,000 to £155,000. This is below the overall average payment of £160,869.
Lara Oyedele, chief executive of Odu-Dua Housing Association, said she was most concerned about the number of women in the top 100.
‘If you were looking at middle ranking staff in housing organisations they are generally female,’ she said. ‘The question for me is how come that is not represented at the top level?’
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