In DAX corporations, an average wage gap of 14% exists, favoring men over women. - Men employed in Dax companies typically earn approximately 14% more than their female counterparts on average.
In a revealing analysis by EY, substantial discrepancies have been found among DAX companies in Germany regarding gender pay equality. While women at Daimler Truck earn 15% more than their male counterparts, the situation reverses at Deutsche Bank, where men take home 38.8% more on average. Munich Re, Deutsche Börse, Hannover Rück, and Commerzbank also exhibit a higher average earnings for men. Conversely, BMW, DHL, and Vonovia are companies where women surpass men in earnings.
A notable concern is the underrepresentation of women in leadership positions, with a 28.5% share compared to 33.1% in the overall workforce. Fresenius, a healthcare provider, is a notable instance where women constitute 67.4% of the workforce but make up only 28.2% of top-tier management.
EY's findings, based on data provided by the companies, do not consider factors such as specific job roles or qualifications. The disparity in earnings is attributed to women often taking up part-time work possibilities, often available only in lower positions, and a lower prevalence in leadership roles, leading to higher average gross salaries for men.
In the broader context of the gender pay gap within DAX companies, several interrelated factors have significant influence. These include structural and occupational segregation leading to women being underrepresented in higher-paying positions, differences in pay for comparable roles, part-time work, cultural and organizational norms perpetuating biases, and a lack of targeted benefits and support for women's health and career advancement.
To tackle these issues, comprehensive corporate strategies are required, such as equitable pay practices, better support for women's career advancement, and more inclusive workplace policies. Ongoing efforts to bridge the gender pay gap will help foster a more equal professional landscape in DAX companies.
- Vocational training programs could be implemented to equip women with skills necessary for higher-paying jobs in science, technology, engineering, and mathematics (STEM) fields, aiding in closing the gender pay gap in DAX countries.
- Health-and-wellness initiatives focused on womens-health issues, such as mental health and family planning, could help support women in their careers by addressing the unique challenges they face in the workplace.
- To promote leadership diversity and address the underrepresentation of women in top positions, finance could be allocated towards professional development programs, coaching, and mentorship initiatives, designed to help women progress their careers and assume leadership roles.
- Corporate emphasis on gender balance in business careers can be strengthened by implementing policies that encourage women's advancement, such as providing flexible work arrangements, allowing time off for career development, and offering opportunities for vocational training in industries where women are underrepresented, thus ensuring more equal opportunities for career growth and earnings in DAX countries.
