The Chartered Management Institute has released a report that estimates that the gender pay gap might not be closing anytime soon. CMI shows that women will have to suffer through lower wages for the same work done by men until 2067.

It's disheartening. The CMI reported that 40 years after the Equal Pay Act became a law, male managers on the average still get around £10,000 more than their female counterparts!

How did they come up with the figure?

Well, they looked at the current rates of increase and it showed that it will take 57 years before equal pay happens.

Yeah. Apparently, women's salaries increased only 2.8& last year, as opposed to 2.3% for the men. If this continues, it will take 57 years for the women to catch.

This is actually quite a comprehensive study involving close to 45,000 individuals and close to 200 organisations. It's sad.

CMI also found that the gap was more pronounced at senior levels. In fact, they reported that there was a 24% gap in higher management.

But this could be changed right? I think that we should all work together to make the Equal Pay Act look more like a reality than a potential!

They also found that the most unequal industries were pharmaceuticals and IT, with women getting paid more than £14,000 and £17700 less than their male counterparts!

Women really have it bad That's not all a bigger percentage of women were made redundant in the last 12 months. 4.5% of women got laid off while only 3% of men suffered the same fate.