Singapore financial firms shrink gender pay gap

Like many of its regional peers, Singapore is struggling with a dwindling birthrate and graying population and so has begun to embrace policies designed to encourage working parents. — Bloomberg

SINGAPORE: The gender pay gap for women working in Singapore’s finance industry narrowed to 15.6% in 2022, almost half the 27.1% gap of a decade ago, the city-state’s Manpower Ministry said in a response to a question from a lawmaker on Tuesday.

The remaining difference between what women earn, on average, compared with their male peers, is because higher-paying, senior positions are more often held by men, the ministry said. It also cited hours worked, experience and education.