By June 7, 2026, Poland must implement EU Directive 2023/970 on pay transparency, which introduces the obligation to publish salary ranges, report the pay gap, and ensure employees have access to information about pay in comparable positions. For the financial sector, this means one of the biggest systemic changes in recent years — and a real confrontation with the problem of pay inequality.

The scale of the challenge: the pay gap in numbers

Although part of the market still perceives pay as a relatively balanced area, the data shows otherwise. The Women in Finance 2025 report carried out by Antal together with CFA Society Poland, in cooperation with Bank BPH and the Chamber of Fund and Asset Management (IZFiA), shows that 82% of men believe that women and men receive comparable pay in equivalent positions. However, only 34% of women share this opinion. What is more, 38% of female respondents notice an increase in pay inequality, while among men this problem is observed by only 7%.

Differences in perception are reflected in market data. According to the Nationwide Salary Survey by Sedlak & Sedlak, women in managerial positions in Poland earn on average 25% less than men. In management boards and supervisory boards, the gap reaches as much as 44%. This means that a woman in a managerial position — with the same responsibilities and competencies — statistically “earns her salary” by September, and works the last months of the year for lower pay than her male counterpart.

The issue of women’s underpaid wages is one of the most frequently raised aspects
in the context of gender inequality. It is a global problem, and the most frequently mentioned factors that may influence it include lower female participation in professional life — linked
to the unequal division of household and caregiving duties, a higher share of women in lower-paid specializations, discrimination or weaker negotiation skills, and a lack of pay transparency — says Małgorzata Rusewicz, President of IZFiA.

The end of pay secrecy in recruitment

The directive introduces the principle of transparency. Employers will be required to publish salary ranges in job advertisements or provide them to the candidate no later than before signing the employment contract. They will also not be allowed to ask candidates about their previous earnings, which is intended to limit the perpetuation of historical pay inequalities. Employees will also gain the right to information on the average pay of people performing the same work or work of equal value — broken down by gender. Companies employing more than 100 employees will have to report the pay gap periodically, and if the 5% level is exceeded — implement corrective measures.

Implementing the directive will force employers to thoroughly review pay policies, including rules for granting premiums and bonuses, which often constitute a significant part of total compensation. Pay transparency may reveal differences that have remained invisible for years.
In many organizations, this will require not only data analysis, but also — if necessary —  pay adjustments — says Artur Skiba, President of Antal.

Transparency can increase women’s participation in decision-making roles

Pay transparency can contribute to increasing equal opportunities in professional development. According to the Women in Finance study, only 36% of women in the financial sector believe they have easy career development opportunities, compared with 47% of men. At the same time, only 16% of women perceive themselves as playing a strategic role in the organization, which shows limited female representation in key positions. Greater transparency can help eliminate structural barriers and increase employees’ trust in the organization.

Inequality of professional opportunities and entrenched gender-related stereotypes are among the main causes of pay differences, which — unfortunately — are also visible in the financial sector.
The need to equalize opportunities has been discussed for years, yet the problem remains current. Meanwhile, pay equality in organizations not only supports women’s professional development, but also translates into greater efficiency and competitiveness of companies, and in a broader perspective — into the development of the entire economy — says Beata Sax, CFA, Vice President of the Management Board of Investors TFI and of the professional organization CFA Society Poland, as well as Member of the Council of the Chamber of Fund and Asset Management (IZFiA)

The financial sector faces its biggest change in years

In the longer term, implementing the directive may not only reduce the pay gap, but also increase organizational competitiveness and strengthen the position of women in the financial sector. Managers will play a key role in this process. 

It is important for leaders to be well prepared to implement the new regulations. Managers influence the pay level of their team members, although they cannot shape it entirely freely — they are bound by specific budget frameworks, rules, and company policies. This makes it all the more crucial that they are well prepared, able to reliably assess team performance, and conduct pay conversations in an open and trust-building way. A sense of unfairness in this area is one of the most common sources of employee dissatisfaction, which is why transparent communication, clear explanations of decisions, and consistent managerial actions are of particular importance here— says Agnieszka Bukowska, Head of HR and Services, Bank BPH

🔗REPORT Women in Finance 2025