European Board Gender Pay Gap Hits Six-Year High

By: WE Staff | Monday, 12 January 2026

• The average compensation for female board members in Europe corresponds to 62% of that for males in 2024, said Omar Ali of EY.
• The equality level in North America is 94%, while the gap for the world is 22%, and this varies with age.

The pay gap in boardroom directors at European financial servicing organizations is currently at its highest level in six years, despite the continued rise in women representation, as reported by EY.

According to data from the consultancy for 2024, the pay package of female non-executive directors in banks, insurers, and asset managers in the European Union was only 62% of the pay given to their male counterparts. This is the widest gap since EY started collecting the data in 2019. Meanwhile, the proportion of women on the board improved to 41% in 2024 from 35% in 2020.

Regional differences were apparent. In North America, women received 94% of what men were paid, holding steady at last year’s ratio. Women accounted for 38% of non-executives in the region, up six percentage points from 2020.

Internationally, the gap remains, as the average compensation of the board members who are female is $252,672 compared to $325,402 for males in 2024.

EY global financial services leader Omar Ali said, “The widening gender pay gap in Europe’s largest financial firms is a stark reminder that greater representation does not directly translate into pay parity.”

Pay differences related to age were seen, with 70+ year-old directors receiving a 24% premium in Europe, 43% in Asia Pacific, and 8% in the US and Canada. Ali explained, “While experience is always appreciated, younger talent with technology skills are increasingly essential.”

Research from advocacy group 25X25 in London draws attention to the fact that more than half of the board directors in technology-related expertise are women. This shows that technology expertise may help increase the number of women on the board as well as provide equality in compensation.

This highlights that despite increased numbers, a betterment in compensation parity for the financial industry has not been attained.