The British government just revealed its study about the gender pay gap in over 250 employees firms. The main auction houses are included in the study. The result is incontrovertible.
A dazzling gender pay gap
The main auction houses multiply the sales records and pile up millions of dollars. In that context, Art-Trope wrote an article about the latest Christie’s auction dedicated to Peggy and David Rockfeller’s collection from which all the lots were sold. Despite the generated income, only men seem to benefit from it. Indeed, according to the study made by the British government about the over 250 employees firms, the gender pay gap remains significant. The most important gap is reached by Bonhams with a 37% rate. However, the results of the other major auction houses are not better. Christie’s has a 25% gap, right in front Sotheby’s and its 22%. Moreover, women receive 44.8% less bonuses than men at Bonhams, 40.3% at Christie’s and 16.7% at Sotheby’s.
A significant room for improvement
The report points out the gender pay gap. Indeed, it also gets back on the proportion of women in the executive boards and holding the highest positions. As a result, at Bonhams the highest salaries are earned by only 27% of women. Only Sotheby’s is close to 50%. Also, most of the part time job positions are held by women. However, the statistics are relevant for the United Kingdom even though the auction houses’ branches in the United States and China for instance do not have or just a few women holding key positions. Indeed, at Christie’s out of the 16 people of the executive management group only five are women.
The Fine Arts market stuck in the past
Art-Trope wrote an article about the direction shifting of the main American cultural institutions. It highlighted the nominations of more and more women as heads of the great American museums. Despite this new trend, the auction houses did not update their habits. According to the British journal The Art Newspaper, Guillaume Cerutti, Chief Executive of Christie’s said that the imbalance at the top of the firm “is a reflection of the company’s past”. However, he also ensured that important measures would be taken so that Christie’s executive team would reach gender equality in two years. Rachel Kaminsky who entered Christie’s as a secretary in 1983 at the age of 22 became the first woman head of Old Masters department. She remembers a time when women were “simply treated differently”. Even though all auction houses promise fast and structural changes, there is still a long way to go.
Read our article about Art-Trope Painter Artist Repiquet here.
Source : The Art Newspaper