The presence of women in leadership roles across private and public sectors in Cyprus is on a steady rise, but the wage gap persists, according to recent data.
Niki Christofi, a member of the Corporate Social Responsibility Committee of the Institute of Certified Public Accountants of Cyprus (ICPAC), shared these insights during a recent seminar on labour issues.
Research Insights: Drawing on data from the European Institute for Gender Equality, Christofi highlighted that Cyprus scored 60.7 out of 100 on the Gender Equality Index for 2023, ranking 21st in the EU. While progress is evident over the years, questions arise regarding the translation of this progress into economic equality.
Labour Market Dynamics: Examining the labour market dynamics, the Cyprus Statistical Service’s third-quarter data for 2023 reveals that men still outnumber women in managerial positions, both as self-employed and employees. Despite significant progress, a notable gender gap persists in certain roles, raising questions about the correlation between progress and financial gains.
Educational Attainment and Skills: In terms of education, 40% of women in Cyprus hold tertiary degrees compared to 35% of men. However, the participation of both genders in education and training remains similar, with 16% for women and an equivalent figure for men.
Wage Disparities and European Averages: The wage gap persists, with women in Cyprus earning 90.3 cents for every euro earned by men, outperforming the European average of 87.3 cents for every euro. Despite challenges, Cyprus demonstrates relative improvement compared to other European nations.
Pay Disparities in Leadership Roles: Analysing monthly earnings for top executives and administrators in Cyprus, the Cyprus Statistical Service reveals discrepancies between genders:
- Senior executives and managers see men earning €6,019 monthly on average, while women earn €4,945.
- General directors and senior executives witness men earning €12,481 on average, compared to women’s €11,706.
- Administrative and commercial directors observe men earning €6,227 on average, whereas women earn €4,945.
- Production directors and those in specialised services experience a gap, with men earning €4,747 monthly on average and women earning €4,556.
- In the hospitality, restaurant, wholesale, retail, and services sectors, women are paid an average of €3,012, slightly less than men who earn €3,122.
Public Sector Dynamics: In the public sector, the distribution of monthly government employees by gender and salary scale indicates progress, with women leading in certain scales. For example, women dominate the education sector (75%) and the judiciary (55.6%).
Despite advancements, the International Labour Organisation (ILO) suggests that achieving complete pay equality globally might take until at least 2086 at the current rate of progress.