New research shows the ranks of successful, single women are rapidly swelling but, in the vast majority of cases, men still earn more. Women's Editor CHRISTEN PEARS reports

DENISE Macgregor has always been a high flyer. Born in the North-East, she lived in America for more than 20 years, where she was head of communications for a company that ran 13 Illinois hospitals and was valued at £500m.

Since moving back to England a couple of years ago, the 55-year-old has enjoyed a change of pace and career. Her first solo art exhibition is taking place this month at Darlington's Pizza Express restaurant and she also runs a successful business that teaches people how to tap into their potential through the visual arts.

Denise is one of the growing number of unmarried British women who are aiming high and earning more. Today around a quarter of women in their 30s are single or divorced, according to the Office for National Statistics, which also predicts that a quarter of women across all age-groups will be single by 2020.

A new report says there are now 195,000 unmarried women, who own at least £25,000 each in liquid assets, such as cash and easy-to-sell shares.

And their numbers are set to rise, along with their bank balances - which currently total around £10.2 bn - according to research by Close Wealth Management.

Martin Smith, chief executive of Close Wealth Management, says the rise in the number of wealthy single women is partly due to the rising divorce rate - today 40 per cent of marriages end in divorce.

But he adds: "Divorce is only one reasons why there is a growing number of single affluent women. Many have become more career orientated and they are also catching up with men in the salary stakes."

Denise's own divorce acted as a stimulus for her career. She says: "I think there are some women who go out after a divorce and try to prove themselves and it spurs them on. It wasn't quite the same for me. I had always had a pretty demanding job but after my marriage ended, it was a question of survival. I had a son and didn't get any welfare payments so I had to be successful at work.

"People have the idea that it's always women in their 20s and 30s who are the most successful when it comes to business but it's not the case. I know a lot of women who have their own business and quite often, they're older. They have the confidence and the experience to make it work and they don't need a man's support."

Denise is a member of Darlington Women's Network, set up by the borough council last year to enable women to share ideas and support each other's businesses. It currently has 84 members, around half of whom are single or divorced.

But while the latest figures show wealthy single women are on the increase, there is still some way to go. Another new report, by the Fawcett Society, which campaigns for equality, shows that husbands still often call the shots on financial decisions, particularly when their wife has a low personal income. Many women even have secret savings accounts, which their husband knows nothing about, for their own security.

Geethika Jayatilaka, co-author of the Home Truths report, says: "Bringing money into the household brings with it a sense of entitlement to decide how it is spent. Because men earn more than women, they have greater control of how money is spent or shared and more access to personal spending. Despite the popular belief that we have achieved equality we can see that in too many households, women continue to have less money of their own than men do."

And in the workplace, where women are protected under law from discrimination on the grounds of gender, they are still struggling to achieve complete equality. Men earn 19 per cent more per hour than women, a pay gap which narrowed by just 0.4 per cent last year, according to the Equal Opportunities Commission (EOC).

For women working part time, the pay gap actually got wider.

Jenny Watson, deputy chair of the EOC, says there have been positive changes for women, but more advances are still needed.

"If you look at how things have changed since the Sex Discrimination Act came into force in 1975, we have undoubtedly made great strides towards equality. It's now the norm for women to work.

"We have access to a far wider range of jobs and opportunities and are reaching managerial levels in far higher numbers than we used to - women now account for around a third of all managers, compared with two per cent in 1974.

"Despite these positive changes, it's clear that we are still far from having achieved equality. Having children still has a strong impact on many women's position at work. Women are forced to resign or pass up promotion opportunities because their employer won't consider changes to their working hours to fit in with childcare arrangements.

"Employers must tackle the long and inflexible working hours culture. They need to carry out pay reviews to ensure they are not undervaluing the contribution of their women employees.

"This will enable women to fulfil their potential at work and to gain greater financial muscle.