| Abstract: |
We examine the evolution of the gender pay gap in finance, using administrative U.K. data over two decades. We show a persistently larger gender pay gap in finance relative to other sectors, which is predominantly explained by skilled male employees sorting relatively more into finance. The gender pay gap in finance is lower for flexible occupations, in firms providing childcare benefits, and in female friendly environments. Over time, the difference in the gender pay gap between finance and non-finance sectors has steadily narrowed from 40% in 1997 to 23% in 2019, as more skilled women sort into finance.
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Biography:
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Prof. Elena Simintzi joined UNC Kenan-Flagler from the Sauder School of Business at the University of British Columbia. She worked as an economic analyst for the EFG Group before she began her academic career. She received her PhD in finance from London Business School and her M.Sc. in economics and finance from Warwick Business School at the University of Warwick. Labor and finance, innovation and entrepreneurship are among the research interests of Elena Simintzi. Her work crosses the borders between finance and labor economics and emphasizes the importance of labor market frictions in the corporate environment. Her recent research revisits the heated debate on pay inequality through the lens of the firm and examines how within firm disparities affect firm and employee outcomes. Prof. Simintzi’s work has been published in academic journals in finance and economics, including the Review of Financial Studies, Journal of Finance, Journal of Financial Economics and American Economic Review.
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