In DAX companies,men tend to earn 14% more than their female counterparts on average. - Men working at Dax firms typically earn approximately 14% more than their female counterparts on average
DAX Companies Show Wide Gender Pay Gap and Under-Representation of Women in Leadership Roles
According to a study by EY, differences in earnings between male and female employees at DAX companies in Germany are significant. On average, men earn about 14 percent more than women. Daimler Truck stands out as a company where women earn around 15 percent more than their male counterparts, yet at Deutsche Bank, the average earnings for men are 38.8 percent higher. Munich Re, Deutsche Börse, Hannover Rück, Commerzbank, and other companies also have higher average earnings for men.
However, it's worth noting that women out-earn men at Daimler Truck, BMW, DHL, and Vonovia.
The study also found that women are under-represented in leadership positions, with a proportion of just 28.5 percent against 33.1 percent in the overall workforce. This gap is particularly noticeable at healthcare provider Fresenius, where women make up 67.4 percent of the overall workforce but only 28.2 percent of top management.
EY's figures are based on company-published data without considering factors like specific job roles or qualifications. The organization explained that women often work part-time, which is often only possible in lower positions and less likely to be in leadership roles, leading to men typically having a higher average gross salary compared to women.
While the study does not provide specific quantitative data on women's representation in leadership roles within individual DAX companies, career breaks and part-time work are significant contributors to the gaps in leadership representation and overall financial inequality for women in Germany.
The gender pay gap is a recognized issue in rich countries, including Germany, despite ongoing awareness. Moreover, Germany's average salaries are among the highest in Europe, indicating that pay disparities impact well-paid labor markets as well.
In Stratec, a company listed in Germany, a whopping 27.4 percent gender pay gap was reported for the financial year 2024, although the calculation method was not specified in the summary.
It's essential to note that more detailed, company-by-company DAX statistics for pay gaps and leadership representation would need to be sourced from specific corporate sustainability or annual reports, or specialized studies not directly available in the provided documents.
- Vocational training programs in EC countries could focus on equipping women with necessary skills for leadership roles in science, health-and-wellness, women's health, finance, and business sectors, aiming to bridge the gender pay gap and promote gender equality in these industries.
- The science community could collaborate with health-and-wellness companies to develop research and strategies that address the root causes of career breaks and under-representation of women in leadership roles, considering the impact on their financial well-being and long-term career progression.
- Women in EC countries could benefit from vocational training programs that prioritize leadership development, enabling them to climb up the corporate ladder in traditionally male-dominated industries, such as finance and business, and compete more effectively for top positions in companies like those listed in the DAX index.
