The number of high-earning women in the UK has reached a record high of 284,000, marking a 12% rise in the year to March 2025, according to new analysis by Bowmore Wealth Group. The milestone reflects growing female representation in senior professional and corporate roles — but also highlights the persistent gender gap among the country’s highest-paid individuals.
The latest figures show that women now account for 26% of top-rate taxpayers, up from 25% last year and 24% the year before. The UK’s top income tax rate of 45% applies to individuals earning over £125,140 annually.
Bowmore described the increase as “encouraging progress” as more women break into senior positions across law, accountancy, and financial services. “It’s encouraging to see a record number of higher-earning women,” said Gill Millen, Managing Director at Bowmore Financial Planning. “Growing female representation in senior roles is showing up clearly in higher incomes.”
The findings coincide with broader progress on gender representation in corporate leadership. Women now occupy a record 43% of FTSE 350 board positions — a sharp increase from less than 10% a decade ago.
However, Bowmore’s analysis found that progress has slowed among the very highest earners. While the number of men with annual incomes exceeding £1 million rose by 9% to 2,500, the number of women in the same bracket remained stagnant at around 400. Women now represent just 14% of the UK’s seven-figure earners, down from 15% the previous year.
“Unfortunately, the progress made with more women entering the top tax bracket doesn’t yet extend to the very top end,” Millen said. “That suggests there are still barriers preventing women from accessing the highest-paid leadership roles and ownership stakes.”
Experts say the disparity at the top reflects structural inequalities in pay and opportunity. In sectors such as finance and professional services, partnership models, equity allocations, and bonus structures often favour men. While more women are reaching C-suite positions, they remain underrepresented among equity partners and business owners — roles that typically command the highest incomes.
Millen said the findings also underscore the growing importance of financial planning for women as their earning power increases. “As more women earn more, the need for smart, informed investing becomes increasingly important,” she said. “It’s not just about wealth accumulation but ensuring long-term financial security and intergenerational stability.”
Despite their growing economic influence, Bowmore’s research shows women are still less likely than men to seek professional financial advice. “Research shows women are less likely to work with advisers, partly because the financial services industry remains male-dominated,” Millen added. “As more women become high earners, ensuring access to inclusive, trusted financial guidance is more important than ever.”
