Gender and the relationship between perceived fairness in pay, promotion, and job satisfaction in a sub‐Saharan African economy

Purpose The purpose of this study was to investigate the perceived gender differences in pay and promotion of bank managers in Nigeria, and how these differences affect job overall satisfaction of male and female bank managers in selected banks in Nigeria. Design/methodology/approach The population for this study comprised bank managers who were members of the Chartered Institute of Bankers of Nigeria. A total of 800 questionnaires were sent to potential respondents chosen from 50 banks. A total of 512 usable questionnaires were returned giving a response rate of 64 percent. Findings Results of this study indicate that a salary differential does exist between male and female bank managers in Nigeria. Male managers were more satisfied with their salary than their female colleagues. Results also indicated that there were gender differences in promotion. Male managers were overall more satisfied with their company promotion policies than their female counterparts. Research limitations/implications This research is limited to the banking industry. Thus, the results cannot be generalized to other industrial sectors of the economy. This study needs to be replicated in other organizations using the same method. Practical implications The study offers practical suggestions to the banking industry and human resources managers on how to recruit, pay, promote and retain women managers as well as to maintain gender equity in the industry. Originality/value The study examines gender related issues in a developing economy this is under‐researched area. It offers recommendations on how to provide opportunities for women to excel in the banking industry in a developing economy.