The pay gap in senior management stands at 13% and highlights insufficient progress over two dècades
The study prepared by ICSA Grupo in collaboration with EADA Business School reveals that female representation in senior management positions barely reaches 18.6% and that a female executive must work 47 additional days per year to match a man’s salary.
The gender pay gap in Spanish senior management remains at 13% and has not experienced significant improvement over the past twenty years, despite the steady increase in female representation in leadership positions. This is confirmed by the 20th edition of the report Gender Pay Gap and Women’s Representation in Management Positions 2026, prepared by ICSA Grupo in collaboration with EADA Business School based on more than 80,000 salary data points.
The study, which analyses developments from 2006 to 2026, shows that female representation in senior management has risen from 16.9% to 18.6% - a limited increase that confirms the continued male predominance at the highest levels of responsibility. Growth has been more noticeable since 2013, when the historic low of 10.3% was recorded, yet it still fails to reflect a structural transformation in access to leadership.
This increase in representation has not been accompanied by a corresponding reduction in pay inequality. On the contrary, the gender pay gap in senior management has widened from 8.5% in 2006 to the current 13%. In practical terms, this difference means that a female executive must work 47 additional days per year to receive the same remuneration as a man in an equivalent position. If this trend continues, pay parity would not be achieved before 2044.
“Twenty years of measurement show that the system has progressed in terms of inclusion but has not fully transformed the criteria by which leadership is assessed and rewarded,” explains Dr Aline Masuda, Professor and Researcher at EADA Business School. “When female representation increases and the pay gap remains, we are facing a structural phenomenon. The challenge is no longer solely about access, but about how career paths are designed and how leadership is recognised within organisations.”
An inequality that widens with seniority
The report confirms that the gender pay gap intensifies as hierarchical level increases. While the pay difference stands at 9.8% among employees and 10.5% among middle management, it reaches its highest level in senior management.
This pattern corresponds to lower female representation at the upper levels of organisational structures. Women account for 46.4% of operational roles and 33% of middle management positions, yet their presence falls to 18.6% in senior management, demonstrating a progressive decline in representation within spaces of greater power and responsibility.
Female talent, ready to take on leadership positions
The study highlights that the availability of qualified female talent is not the primary obstacle. In EADA Business School’s executive education programmes, women’s participation has reached 47.3% over the past two decades and now stands at 51.6% in the 2025–2026 academic year. On the Global MBA, female representation stands at 59%, while internationally it reaches 49.7%.
“The uneven progression throughout the organisational structure confirms that the challenge is not one of talent, but of organisational design. Human capital is prepared, yet both pay and structural convergence remain unfinished business,” states Indry Canchila, Technical Director of the study and Partner-Director of the Consulting Area at ICSA Grupo.
Differences by company size and sector
The analysis by company type reveals uneven developments. Small enterprises have recorded the greatest increase in female representation in senior management over the past year, rising by 4.3%. By contrast, medium-sized enterprises show a slight decrease of 0.2%, while large companies register a reduction of 4.1%.
By sector, manufacturing and tourism show notable progress in female representation in senior management, whereas the services sector has experienced a decline.
The report also notes that mandatory equality measures apply only to companies with more than 50 employees, which represent 1.2% of the Spanish business fabric. This limited scope reduces the potential impact of current policies on the labour market.
After twenty years of continuous analysis, the study concludes that Spain has made progress in women’s access to senior management positions but has not succeeded in correcting structural inequalities in pay or representation at the highest levels of leadership.
