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22 Apr 2024, Edition - 3205, Monday

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Coimbatore

23% of women earners in India’s metros perceive a gender pay gap, and 16% report gender bias at their workplace: Survey by CRISIL and DBS Bank India

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Coimbatore – March 21, 2024 – DBS Bank India, in collaboration with CRISIL, launched the second of three reports from its comprehensive study entitled ‘Women and Finance’. The report is based on a survey of over 800 salaried and self-employed women across 10 cities in India and is designed to reveal the interplay between their professional aspirations and personal lifestyle preferences. Building upon the first part released in January 2024, the second report offers invaluable insights into the unique circumstances of women in the workforce, including their professional aspirations, habits, and the barriers they face. It examines how factors like age, income, marital status, presence of dependents, and location influence their preferences.While salary and career advancement ranked as the topmost factors when selecting a job for 69% of salaried women, 42% of self-employed women prioritised independence and flexible working hours. This insight underscores the importance of tailoring workplace policies to accommodate diverse needs and preferences. Interestingly, remote working is not a high priority among salaried women, with only 3% considering it essential. The findings corroborate industry views on persistent gender disparities in the workplace, revealing that the perceived gender pay gap at a pan-India level stood at 23%. Semi-affluent women, earning between 10 to 25 lakhs annually, and affluent women, with incomes ranging from 41 to 55 lakhs per year, have varying perspectives on the gender pay gap. Affluent women reported a higher perception of the gender pay gap at 30%, while this stood at 18% among semi-affluent women. A similar trend was seen with the perception of gender bias at the workplace with 30% of affluent women asserting that they had experienced it, significantly higher than the 12% of women in the semi-affluent cohort who had perceive the same bias.42% of women earners in metros face challenges while negotiating salaries. The experiences differ between the eastern and western parts of India. In Kolkata, 96% of women face no obstacles when negotiating salaries, while only 33% in Ahmedabad feel the same. Contrasting perspectives are also observed in southern India. In Chennai, 77% of women do not face challenges when negotiating salaries, compared to 41% in Hyderabad. DBS Bank India Managing Director, and Country Head Kishore Poduri, said, “Encouraging the active participation of women in the workforce is crucial for fostering their economic independence and ensuring autonomy in financial decision-making. Insights gleaned from the study can empower organisations to understand women’s aspirations better and tailor strategies that align with their preferences. This can lead to more fulfilling careers for women, enhancing their participation in the workforce and maximising their potential contributions.”

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