One woman in every eight people in financial fields: Study
According to a sample study of 134 companies by CFA Institute and CFA Society India, Women’s participation rate in finance and related fiends continue to lag in India, the average count being one woman in every eight people on the payroll.
08 Mar 2023 | By PrintWeek Team
Within finance service companies, women represent 21.7% of employees and 15.9% of key management personnel, the study revealed.
The report, titled, Mind the gender gap, is based on Business Responsibility and Sustainability Report (BRSR) disclosures, under which the sample was chosen.
The BRSR framework is a set of sustainability disclosures released by Sebi in 2021 and Indian companies were asked to report topics such as workforce composition, pay, attrition, and other factors, split by gender. The disclosures are voluntary for FY22 and mandatory for the top 1,000 companies from FY23.
The study also found that career progression of women in IT and financial services, which has large workforces and high participation rate, is comparatively lower compared to other sectors.
Further, the average ratio of median pay of women to men for the companies was 0.97, suggesting approximate gender pay parity. However, the ratio drops to 0.52 for key management personnel and to 0.64 for directors.
To erase the gender barriers, the study recommends improving disclosures by companies particularly related to media remuneration.