Flexible working was intended to level the gender playing field, but experts warn it is widening women's wealth gaps due to unequal distribution. While hybrid and remote roles have helped many women balance paid work with caring responsibilities, senior, higher-paid roles are still less likely to offer flexibility, whereas lower-paid and part-time roles are more so.
Dr Sara Reis, deputy director at the Women's Budget Group, says the issue is structural. “The issue here is not flexible work,” she explains. “The lack of access to it in senior, well-paid roles is. Women still do 50 per cent more unpaid care than men, and so are more likely to take up jobs that offer flexible working... But right now, we see that flexibility is more often than not concentrated in lower-paid jobs with limited progression.”
Jeannie Boyle, director and chartered financial planner at EQ Investors, highlights how modest salary differences can snowball. “Lower salaries mean lower pension contributions,” she says. “Someone earning £100,000 over a 20-year period can expect to accumulate an additional £70,000 in their pension fund compared to someone earning £80,000.” If the higher earner increases contributions to 10 per cent, the gap widens to over £350,000.
Hybrid working also affects promotion prospects. Boyle notes that men, often with fewer home responsibilities, focus on networking and visibility, while women working flexibly miss out on informal opportunities. “Women are finding that competence will take them so far in their careers, but it isn’t enough to reach more senior roles,” she says.
Both experts stress that restricting flexible working is not the answer. Dr Reis argues for ensuring flexibility is available at all seniority levels and removing stigma. She suggests advertising jobs as flexible by default unless not reasonably feasible. For women relying on flexibility, proactive financial planning and employer support are critical to career success.
