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Gender wage disparity in Indian banking sector narrows

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Exhibiting a positive trend, gender pay gap in India has registered an improvement of 5 per cent in 2016 from 2015, says the Monster Salary Index (MSI).

According to the survey, the gender pay gap in the Financial services, banking and insurance sector amounts to 21.5 per cent . This is slightly under the general gender pay gap in India (25 per cent).

In the BFSI sector on average men earn an hourly median wage of Rs 346.4 and women Rs 272, reported The Economic Times.

Furthermore, the MSI data from 2016 indicates that the current gender pay gap in India stands at 25% where men earned a median gross hourly salary of Rs 345.8, in comparison women earned only Rs 259.8. The gap has narrowed by two percentage points from 27.2 per cent in 2015 and is closer to the 24.1 per cent in 2014.

According to Monster, Women of India Inc., survey aimed at understanding the working women of India and their workplace concerns broadly was categorised under the parameters of- workplace, growth and safety. The survey was conducted on Monster India’s database capturing responses from over 2000 working women.

Analysing the employment-intensive sectors, the index derives that the average gender pay gap in the Manufacturing sector stood at 29.9 per cent.

Apart from the BFSI sector, gender gap in the IT sector is 25.8 per cent and  Education and Research sector reported an average gender pay gap at 14.7 per cent.

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