Salary Survey Shows Big Gap Between Men, Women in Accounting and Finance Industry

Women are earning considerably less than their male counterparts in the accounting, finance and banking industries, according to CareerBank.com’s 2002 Salary Survey Report. Based on self-reporting responses of 2,575 accounting, finance and banking professionals across the country, the report also highlights the changes caused by a turbulent economy. Highlights of the report include:

 Women are still making less, at all levels. On average, women respondents make $19,000 less than men every year. Female Senior Accountants make almost $12,000 less than male Senior Accountants. Female CFOs make $35,000 less than their male peers.

 Loyalty has become more popular. Only 33% of respondents have been at their current position less than 1 year. Last year, 48% claimed the same thing.

 Networking is key. 34% of respondents claim that’s how they found their most recent position. Networking was the most common answer.

 Marriage means more money. On average, married respondents make about $13,600 more than their single peers.

 The economy has its effects. 27% of those interviewed left jobs because of downsizing this year, as opposed to only 20% last year.

 Use of job boards has remained steady. With a considerable number of job boards going out of business or being acquired in the past year, the number of professionals using them to find jobs remains remarkably steady.

 Raises across the board not as generous. Respondents report smaller pay increases across the board reflecting the downturn in the economy. 35% claim their last raise was less than 2%. Last year, only 29% claimed the same thing.

To view the complete 2002 CareerBank.com Salary Survey Report, please click here.