Mumbai- Women across sectors in the country face pay gaps and gender discrimination at workplaces compared to their male counterparts, claims the second survey in the series ‘Women and Finance’ conducted by DBS Bank India and CRISIL, which was released on Wednesday ahead of the International Women’s Day (March 8).
The survey conducted among more than 800 salaried and self-employed women in 10 cities considered various factors like age, income, marital status, professional aspirations, and personal lifestyles, etc.
The findings corroborate industry views on persistent gender disparities at the workplace, and the perceived pay gap was as high as 23 per cent among salaried women while gender bias stood at 16 per cent.
For 69 per cent of salaried women, salary and career advancement was the top factor when selecting a job, while 42 per cent of self-employed women prioritised independence and flexible work hours.
Interestingly, remote working was not a high priority among salaried women, with only 3 per cent agreeing that it is essential.
Semi-affluent women, earning between Rs 10 lakh and Rs 25 lakh annually, reported a gender pay gap of 18 per cent and gender bias of 12 per cent, while affluent women, with salaries ranging from Rs 41-55 lakh per year, admitted to a pay gap of 30 per cent as well as gender discrimination of 30 per cent.
A significant chunk -- 42 per cent of salaried women living in metros, encountered challenges while negotiating salaries, though this differed from region to region.
In Kolkata, 96 per cent of salaried women said they do not face a challenge in negotiating their pay, while only 33 per cent in Ahmedabad felt the same.
DBS Bank’s Managing Director Kishore Poduri said that women constitute half of the global workforce and around 30 per cent of the employee base in India, and the survey findings can address many issues to help them thrive personally and professionally.
The salaried unmarried women (26 per cent) show a greater appreciation for mentorship and career development opportunities compared to their married counterparts (16 per cent), said the survey.
This, however, varied with the national average (19 per cent), Kolkata (46 per cent), Delhi (33 per cent), and Chennai (32 per cent), endorsing the child-care support/maternity benefits, and Pune (35 per cent) finding sabbatical policies valuable compared to the national average of 5 per cent.
On the lifestyle front pertaining to health, dining and leisure, 66 per cent women in metro cities undergo comprehensive annual health check-ups, 32 per cent dine out or order food more than once a week, while 24 per cent spend more than four hours daily on non-office screen-time.
In addition, 32 per cent of married women took 3-5 leisure trips in the past year, or nearly double as compared to their unmarried counterparts, while 47 per cent were generous spenders, using up more than 70 per cent of their income.
The survey also revealed that 39 per cent women from this segment have high credit card spends in discretionary categories like travel and shopping, compared to the pan-India average of 33 per cent.