Female City workers are losing out on more than £30 million a year in the gender pay gap, a new report claims.
Research from recruitment consultant Robert Half Finance & Accounting revealed that women in the financial sector earned on average £11,660 less per year than their male counterparts.
Average earnings were recorded at £39,350 in 2006 - and that compared to the £51,010 average salary for men, according to the research.
This pay difference has jumped by almost £2,000 on last year's figures. In 2005 female finance workers were paid an average £9,670 less than men.
By applying the current pay gap to the estimated 2,720 women in finance, the total figure missing comes to £31,715,200, the report noted.
David Jones, managing director of Robert Half Finance & Accounting, said: "While the number of women in management roles is increasing, these figures suggest there remains an inadvertent discrimination in setting male and female salaries."
He added: "Companies must examine why female workers are not reaching higher pay brackets.
"In some instances it may be that women are being financially penalised for taking time out of work to care for children or elderly relatives.
"Managers must recognise diversity and provide flexible working options that accommodate the needs of both men and women."
But the pay divide shows little sign of abating, according to the research.
The rate of increase for male City workers' salaries is estimated at 5.79 per cent, while for women it is only 2.08 per cent.