'Centuries to wait' until women get equal pay

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Research by the Chartered Management Institute shows female company directors have the longest wait to catch up with men in the boardroom.

Their study of 40,000 people reveals the average female executive earns £32,614 - £13,655 less than male colleagues. Current earning power means pay parity will not exist until 2195.

The CMI report also reveals female executives are bearing the brunt of staff cuts with more made redundant than men. The turnover of women staff is at its highest level for four years.

Jo Causon, of the CMI, said it is "inexcusable" for women to wait so long for equal pay. She said: "At least with a glass ceiling it's possible to see through to the next level. When it comes to equal pay, it seems the glass is now opaque."

It comes weeks after the Equality and Human Rights Commission's annual study showed that the number of women given top positions had fallen by almost half.