An in-depth analysis of wage inequalities between women and men was published by Monaco’s Institute of Statistics and Economic Studies (IMSEE) on 19 October 2022. The study found that, like almost all countries in the world, the pay gap between male and female employees in Monaco’s private sector is to the disadvantage of the female population.
Requested by the Prince’s Government with the support of the Committee for the Promotion and Protection of Women’s Rights, the study includes a retrospective look on wage gaps observed from 2012 to 2019 in the private sector.
The overall median wage gap in the private sector in 2012 was 10.1% in favour of men. That gap decreased to 5.9% in favour of men in 2019.
In 2012, male employees in the private sector were better paid compared to women with an average gap of 22.2% in hourly compensation. That gap improved by just 1.3% in seven years, with an average gap of 20.9% in 2019.
Monthly wage gap between men and women has increased over time
Perhaps the most startling statistic of the entire study is that the gender gap for the average monthly wage in the private sector has actually increased. In 2012 that gap was 27.9% in favour of men. That number increased to 28.5% in 2019.
The gap between men and women has narrowed for most of the reference indicators. However, strong disparities appear in certain sectors. In ‘Other service activities’ in particular, the wage gap between men and women (on an hourly basis) has doubled in seven years, even though it was already very high.
“The strong increase in the remuneration of professional footballers between 2012 and 2019, also observed worldwide, contributes significantly to this result,” specifies the IMSEE.
The gender pay gap among Real Estate Activities employees is one of two sectors where female employees are paid more. Construction is the other sector (out of twelve total) in which we find higher average female salaries, both in 2012 and 2019.
According to the recent study, regardless of the year considered, the average wage gap in Monaco remains clearly in favour of men.