The gender pay gap among non-executive directors in European financial services boardrooms widened from 31% in 2019 to 36% in 2023, even as absolute pay levels for women increased during the same period, according to consulting firm EY.

This divergence contrasts with North America, where the gender pay gap narrowed from 7% to 5%, according to the EY European Financial Services Boardroom Monitor. Male non-executive directors in Europe earned, on average, over $100,000 more than their female counterparts in 2023, compared to just over $16,000 in North America.

In Europe, women earned $64 for every $100 earned by male non-executive directors in 2023, compared to $69 in 2019. Over the same period, the average remuneration for female non-executive directors rose by 12% to $184,477, while male pay increased by 21% to $287,994.

In North America, female non-executive directors saw a 13% pay increase to $324,250, while male counterparts experienced a 10% rise to $340,481. Women in North American boardrooms now earn $95 for every $100 earned by men, marking a more “level playing field” compared to Europe.

Source: Fund Europe

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