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The LSE research further showed that the gap between men and women increases higher up the income ladder Brendan Smialowski/Getty Images

Around 18% of the UK's top 1% earners are women. This elite class earns pre-tax income of £119,000 ($154,432) or more annually, according to a research by The International Inequalities Institute based at the London School of Economics.

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The survey pointed out that the pay gap increases higher up the income ladder, with just 9% of the wealthiest 53,000 people in the UK being women. The 53,000 people represent the top 0.1% in the country and earn £456,000 or more annually.

Nonetheless, the gap does narrow down a little lower. Twenty eight percent of the UK's top 10% earners were found to be women. The income group earned £40,400 or more annually. The findings were based on data available from 2013.

Commenting on the same, authors of the report said, "In the UK while the share of women in the top 10% and top 1% has risen since the 1990s, the share of women in the top 0.1% was little changed."

Apart from the UK, the institute conducted its research in seven other countries including Australia, Canada, Denmark, Italy, New Zealand, Norway and Spain. It was found that all these countries had a similar pattern where there were more men at the top of the income chart.

According to the research report, which was based on tax data and other sources, the proportion of women in top income groups between 2010 and 2014 were as follows:

CountryTop 10%Top 1%Top 0.1%
Spain 201032.60%22.10%16.60%
Denmark 201330.90%16.20%10.80%
Canada 201329.80%21.90%15.80%
New Zealand 201329.20%18.60%N/A
Italy 201429.00%19.60%12.70%
UK 201328.20%17.80%9.20%
Australia 201225.40%21.50%N/A
Norway 201321.50%13.70%13.60%

Women made up for less than 33% of the top 10% earners in all these countries. Their proportion fell higher up the income distribution table. Only between 14% and 22% of the top 1% income group in these countries were found to be women.

Alessandra Casarico, co-author of the report was quoted by The Guardian as saying, "Women now make up more of the top income groups, but they still are a distinct minority and they become rarer the higher one climbs." Casarico, who a professor at Bocconi University in Italy added, "Composition of income is important. In the old days, the rich were those with property; they have been replaced by CEOs and entrepreneurs, among whom women are not well represented."