A pay gap of at least £10,000 exists between the sexes across all executive levels, with equal pay among Britain’s bosses almost 100 years off, according to a report.
A study conducted by the Chartered Management Institute (CMI) among 35,000 executives revealed a gender gap of £10,546, around £500 more than last year, although at junior level women earned marginally more than men.
It said that despite women's pay rising more than men’s in 2001, at current rates it will take 98 years to gain parity.
Male executives continue to be paid more than women for the same roles, earning an average of £42,441 compared with £31,895.
The study follows a report by the Equality and Human Rights Commission earlier this month that revealed huge disparity between men and women in employment and pay.
CMI director of policy and research Petra Wilton said: "While CMI is delighted that junior female executives have caught up with males at the same level, this year's salary survey demonstrates, yet again, that businesses are contributing to the persistent gender pay gap and alienating top female employees by continuing to pay men and women unequally.
"This kind of bad management is damaging UK businesses and must be addressed.
"It is the responsibility of every executive, organisation and the government to help bring about change. Diversity shouldn't be seen as something that has to be accommodated, but something that must be celebrated."
However, the research found that among junior executives women earned more than their male counterparts, for the first time since records began, taking home £21,969 compared to male executives' £21,367.
CMI has called on the government to place more pressure on businesses to make formal and more transparent equal pay and opportunity policies.
Dods Parliamentary Communications Ltd