Successful, expert, professionals have been drawn to interim management as a career of choice for quite a while. Many top executives are drawn to the high pay, differing projects and chances to grow new skills along with finding new avenues to pursue.
However, according to a study Executives Online conducted in March 2011, the field of interim management is still 85% controlled by men, including a majority who are aged fifty or older. So is there a place for female professionals to take back this market?
Interim management is no different than many other professional careers across the UK, in that there is a gender pay gap. Russam GMS released a report in June 2011, that found an 8% pay gap between men and women in the interim management arena.
Average pay for male interim managers is 613, while average female pay for interim managers is 567 per day, which is down from the 11% gap reported in December 2010.
However, this isn’t necessarily an indicator of pay inequality across the interim management industry. Charles Russam, the chairman of Russam GMS, proposes that the pay gap is mostly a function of the industries that typically attract men and women.
To support this argument, Executives Online found in its March 2011 report that there was a daily pay rate discrepancy of just 3 between male and female interim managers within the contracting sector alone. To be sure, it is best to have no pay discrepancy at all; nevertheless, myriad other UK industries have far more significant gaps.
So if rate of pay doesn’t necessarily have to represent a barrier to female interim management, the question remains as to whether or not it is right for women?
Interim Women, a business forum dedicated to women’s issues, surveyed 1600 women working as interim managers around the UK and profiled the type of women who pursue interim management along with their motivations.
According to the survey, the average woman interim manager claimed 22 years of business experience and previously held a high executive position. The desire and motivation needed to become an interim manager typically was born out a want for flexibility, work life balance, independence and to improve business skills.
However, the women’s group warns, a certain level of financial instability must factor into anyone becoming an interim manager, male or female. Gaining contracts can take a lot of networking, connections, and time.
Interim management has historically been a male-dominated industry and, depending upon interpretation of statistics, the gender gap in pay does still reflect an element of that thinking. Many women find this role to be a perfect fit, especially those interested in advancing their careers, building skills and growing opportunities for future employment.
Outcomes UK provide highly qualified and experienced interim managers to work within the social care sector across the UK. For further information about their services and to make an enquiry, visit http://www.outcomesuk.com/.
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