Gender Pay Gap Widens for Accountants Over 45

Males Now Earn 60% More Than Their Female Counterparts, Salary Study Finds

LONDON, February 25, 2010 - While the pay gap between males and females appears to be narrowing for
accountants under 30 in business, the public sector and charity, the opposite
is the case for those over 45, according to the latest Career Benchmarking
Study released by specialist recruitment company Robert Half and the
Institute of Chartered Accountants in England and Wales (ICAEW).

According to the study, the average basic salary for a male
chartered accountant over 45 is GBP98,400, which is over 60% more than their
female colleagues' average of GBP60,500. However, in the case of those under
30, females currently receive an average wage of GBP47,300 (an increase of 3%
from the previous year) while the average male salary is only 4% higher at
GBP49,300 (a decrease of 5% from the previous year).

Commenting on the findings, Phil Sheridan, Managing Director
Robert Half UK said: "One of the interesting outcomes of the downturn seems
to be the narrowing of the gender pay gap for those who have recently
embarked on their accountancy careers. Historically, some of the difference
in salaries between genders has been attributable to the fact that the
average male accountant tends to be older and longer qualified than their
female counterparts. As women continue along their career path it is
important that this gap doesn't widen."

The huge difference in pay between males and females over 45
seems to have been exacerbated in the past year with women aged 46-55
reporting an average 10% drop from last year's figures, compared with just a
1% drop for males.

Remarking on the latest Career Benchmarking Survey, Michael Izza, Chief
Executive of the ICAEW, said: "Today's market place shows that skilled
candidates from which ever gender are such a precious commodity and employers
need to look carefully at what they are offering their existing staff members
in terms of career development and training. Our studies show that to attract
and retain female talent, it is also vital to meet employee expectations
regarding career progression and work-life balance."

The global economic downturn had a noticeable effect on
salaries at all career stages this year, with 60% of those questioned
responding that the downturn had a negative effect on their basic
remuneration. In the case of bonuses nearly 70% of those eligible for a bonus
reported that this had been negatively affected in the past 12 months.

Retaining talent

Nearly three-quarters (73%) of managers believe that an
acceptable level of salary increases is important to the retention of key
staff in the current climate. While one in four considers it very important,
especially those in the banking and capital markets sector.

Although some finance teams continue to make redundancies,
many respondents indicated that the greater challenge this year will be
making the case for increased resource (63%) and with budgets still under
pressure, being able to reward staff in non-monetary ways (59%).

Sector differences

Managers in the healthcare and pharmaceutical sector were most
optimistic for salary increases (71%, with an average salary increase of
4.3%). Expectations are much lower in construction, property and real estate,
where only 34% expect an increase (average increase of 3.6%) and government,
charity and not for profit (36% increase, with an average increase of 1.9%)

    - Robert Half pioneered specialised recruitment services and today is the
      world's leader in the field. Founded in 1948, the company is traded on
      the New York Stock Exchange (symbol: RHI) and operates four separate
      divisions in the UK, each serving distinct markets. They include:
      Robert Half Finance & Accounting and Robert Half Management Resources,
      for temporary, full-time and interim professionals, respectively, in
      the fields of accounting and finance; OfficeTeam, for highly skilled
      temporary administrative support and Robert Half Financial Services
      Group, for high-calibre banking and capital markets professionals.
      There are more than 360 Robert Half staffing locations worldwide. For
      more information about Robert Half please visit
      www.roberthalf.co.uk

    - As a world leading professional accountancy body, the Institute of
      Chartered Accountants in England & Wales (ICAEW) provides leadership
      and practical support to over 134,000 members in more than 160
      countries, working with Government, regulators and industry in order to
      ensure the highest standards are maintained. Our members provide
      financial knowledge and guidance based on the highest technical and
      ethical standards. They are trained to challenge people and
      organisations to think and act differently, to provide clarity and
      rigour, and so help create and sustain prosperity. The ICAEW ensures
      these skills are constantly developed, recognised and valued. Because
      of us, people can do business with confidence. The ICAEW is a founding
      member of the Global Accounting Alliance with over 775,000 members
      worldwide.

    - Data collection was carried out online in November 2009. A total of
      3,754 members of the ICAEW working in businesses other than accountancy
      practices responded.

For further information or to arrange an interview, please contact: Katherine Patch, Burson-Marsteller, +44-(0)20-7300-6106, Katherine.patch at bm.com Or Alex Perry, Burson-Marsteller, +44-(0)20-7300-6416, Alex.perry at bm.com