The latest figures on equal pay and promotion in the City of London show large gaps in the earnings between men and women and a glass ceiling. http://tinyurl.com/cou8m9
If City women were as Unionised (and as prone to take tribunal claims) as they counter parts in local government and the NHS then the City would be awash with claims.
This would undoubtedly add to the City’s woes and increase the pace of off shoring. Should employers cut the wages of higher paid men? This would produce equality and economy all round. Whilst this will produce resentment and even hardship for some individuals, it may rebase the City for when an upturn comes.