Monaco Statistics conducts new study on gender pay gap in Monaco

©Direction de la Communication - Stéphane Danna

Monaco Statistics (IMSEE) recently published a new study on the gender pay gap in Monaco in 2024. The report follows on from the first study commissioned when the Women’s Rights Committee was established, which was based on data from 2019. The new study uses the same methodological principles as the previous review, so as to provide an updated picture and enable an analysis of recent years.

To carry out the study, Monaco Statistics once again drew on information about private sector salaries supplied by the Monaco Social Security Funds, together with an analysis of public sector salary indices based on data from the Human Resources and Training Department.

In the public sector, the average indexed salary for women surpassed that for men by 2.4%, compared with just 0.7% in 2019. There is also a good gender balance across highly qualified senior positions, where women make up 49.1% of the workforce (compared with 47.0% in 2019). However, when looking at the categories of positions held (A, B or C), the indices for men remain, on average, higher than those for women in each category. This is a pattern that has been noted in previous years too, although the gaps in each category have been trending downwards.

In the private sector, men continue to have an advantage in terms of pay. On average, monthly salaries earned by men were 18.6% higher than those earned by women in 2024. In 2019, men’s salaries were 28.5% higher than women’s. With regard to hourly salaries, which are calculated and used by Monaco Statistics for analysis purposes, to take account of differing working hours, the gap continues to benefit men but falls to 16.4% (compared with 20.9% in 2019). This equates to men receiving an extra €5.10 per hour worked, on average. However, these differences in average (mean) salaries may be influenced by a small number of particularly high salaries earned by men. The disparity is considerably lower when looking at median salaries: the difference between the median salaries earned by men and women, as defined by the OECD, is only 0.1% (i.e. men receive an additional €1.90 per month). For the purposes of comparison, in 2023 this gap was 6.2% in France and 11.5% across OECD countries.

In addition to providing a snapshot for 2024, Monaco Statistics also sought to use this study to track changes in the gender pay gap over time. Recent observations show that disparities in the private sector have generally been narrowing. The gap in monthly salaries has fallen by 10 points compared with 2012, while the gap in hourly remuneration has seen a reduction of nearly 6 points.

The results of the pay gap study are available on the website  https://www.imsee.mc/