DBS Bank India, in collaboration with CRISIL, launched the second of three reports from its comprehensive study entitled “Women and Finance.”
The report is based on a survey of over 800 salaried and self-employed women across 10 cities in India and is designed to reveal the interplay between their professional aspirations and personal lifestyle preferences.
The report offers invaluable insights into women in the workforce, including their professional aspirations, habits, and the barriers they face. It examines how factors like age, income, marital status, presence of dependents, and location influence their preferences. While salary and career advancement ranked as the topmost factors when selecting a job for 69% of salaried women, 42% of self-employed women prioritized independence and flexible working hours.
The findings corroborate industry views on persistent gender disparities in the workplace, revealing that the perceived gender pay gap at a pan-India level stood at 23%. Semi-affluent women, earning between 10 to 25 lakhs annually, and affluent women, with incomes ranging from 41 to 55 lakhs per year, have varying perspectives on the gender pay gap.
42% of women earners in metros face challenges while negotiating salaries. The experiences differ between the eastern and western parts of India. Contrasting perspectives are also observed in southern India.
DBS Bank India Managing Director, and Country Head Kishore Poduri, said, “Encouraging the active participation of women in the workforce is crucial for fostering their economic independence and ensuring autonomy in financial decision-making.”
