Women in the European Union earn only 77% of men's annual salary, meaning that they would need to work an average of 15 months and 18 days to earn the same as men in a year.
The European Institute for Gender Equality (EIGE) published its new gender equality index on Tuesday.
It found that wage inequality is also evident within couples, with women earning on average 30% less than their partners.
"These three months and 18 days lost each year due to wage inequality are unfair. They hinder equality and competitiveness across Europe," said EIGE Director Carlien Scheele.
This shortfall affects women's lifetime earnings and pensions, the European Institute points out.
The annual barometer gives the EU an overall score of 63.4 out of 100 in terms of equality, which represents an improvement of 10.5 points since 2010. At this rate, however, it will take another 50 years to achieve full gender equality.
Progress also varies from country to country, with scores ranging from 47.6 for Cyprus to 73.7 for Sweden. Belgium scores 68.5 points, placing it in seventh position.
The index monitors progress in terms of equality in six areas (employment, money, knowledge, time, power and health), each assessed on a scale of 0 to 100.
It also looks at violence against women and intersectional inequalities, taking into account several factors such as age, sexual orientation, disability and migrant background.
The methodology used to compile the index has evolved this year to better reflect certain developments such as the digitalisation of society and the importance of work-life balance.
This new methodology has been applied to previous years' barometers, allowing progress to continue to be tracked over time, according to the institute.
No area has achieved full equality. Although women are increasingly entering the workforce, they remain under-represented in positions of responsibility or high-paying jobs, as well as in information and communication technologies (ICT), the index notes.
Young women also perform better than men in higher education, but they remain concentrated in care professions such as teaching, health and social work, which are typically undervalued, leading to limited career opportunities in terms of leadership and remuneration, according to the EIGE's analysis.
Women also continue to take on the majority of unpaid domestic and care tasks, which limits their participation in social and public life.
The index also measures gender equality in decision-making in politics, the economy and society (the ‘power’ domain). This is the best progress since 2020, but this domain remains the one with the lowest score (40.5) due to persistent inequalities, the institute laments.
Health is the area with the highest score (86.2), but progress is stagnating, and inequalities persist, the index points out.
Violence against women remains widespread and underreported, with 31% of women experiencing physical and/or sexual violence during their adult lives. Women under the age of 45 are most at risk.
Europe is progressing "far too slowly", says Carlien Scheele.
"We must make equal pay a reality, build systems that not only free up time for women but also share the burden equally between partners. And set leadership targets to transform women's potential into power. That is how we will move from theoretical progress to real gender equality in everyday life."
"Equality is progressing, but far too slowly," agrees European Commissioner for Equality Hadja Lahbib, who insists on making it a "political priority".
