The future of women in the working world Pt 1: The gender pay gap and why it matters within the property industry and beyond

<p><strong>The gender pay gap vs equal pay</strong></p><p>​</p><p>​Susan Gregory explains that the gender pay gap concerns the difference in hourly pay between men and women. This is where an organisation will calculate the earnings of their male employees and divide that by the total number of men in the business. They will then do the same with women and the difference between those numbers is what the gender pay gap represents. This often highlights a disparity of earnings between men and women.</p><p>The gender gap is not comparing those that are working in the same role and are being paid a different amount (however some are), it’s highlighting that women are often in lower paid, less senior, and less decision-making positions.</p><p>​Ellie Reese explains that the gender pay gap goes further by separating the mean and median average into lower, middle, and upper quartiles. Usually, if you have work for of majority women which most estate agencies do, most women are sitting in the lower pay quartile, showing they are in those more supporting roles.</p><p>​</p><p><strong>The estate agency world</strong></p><p>​</p><p>Considering only companies with over 250 employees need to publish what their gender pay gap is, Nicola, asks how this impacts the estate agency world where most of those businesses are going to be working under that number. They discuss that it is difficult, however, the 20-odd organisations in the industry that so qualify for that number represent well what an estate agency looks like. Most of the small independent agencies will have structures and processes like those of bigger, corporate estate agencies. Corporate businesses have a responsibility of setting the tone because they are highly visible within the industry.</p><p><strong>Why is the conversation around the gender pay gap becoming more prevalent?</strong></p><p>​</p><p>​Ellie Reese suggests that the aftermath of the pandemic has changed the landscape of the working world in general and has highlighted so many things that are based on