Women wait 19 years longer than men to make £1million

Women must work nearly twenty years longer than men before they have amassed £1million, new research has shown.

The average female worker will have earned their million (pre-tax) by the age of 69 years and seven months, but their male counterparts will have reached their million long before then, at the age of 50 years and eight months. The average, gender-neutral worker clears the £1million mark when they are aged 56 years and six months.  

While the near-20-year disparity between ages may be disheartening, it is shrinking. Three years ago women had to work until they were 72 to surpass £1million.

Unsurprisingly, those working in finance are the quickest to become millionaires (41), followed by energy sector employees (46) and workers in information and communications (47). At the opposite end were those involved in accommodation and food industries (94).