Mar 27, 2018 city investment banks reveal gender pay gap data. Men in its barclays uk division which includes retail banking, consumer credit cards and corporate credit cards were paid on average 14. Barclays international reveals its gender pay gap of 48%. Barclays international, the investment bank, has revealed it has an average gender pay gap of 48%, a hefty differential illustrating the challenge facing financial services on equal pay. Women receive discretionary bonuses that are 79% lower on average than men.
The bank has been criticised after publishing data on its uk gender pay gap, which showed that women in its barclays international division were paid 43. Different jobs are paid at different levels, and a gender. Mean gender pay gap at barclays bank plc in the uk 2018, by entity. Barclays is paying women bankers nearly half that of men. Some banks have filed multiple figures for different entities and many have staff which are. Two of the countrys biggest banks, barclays and rbs, reported on their gender pay gaps this week. Interest rate risk in the banking book overview and summary of. Barclays is the first major uk bank to make a gender pay gap disclosure under new rules that require any organisation with 250 or more employees to publish the data. International divisions median hourly pay gap was 43. Uk gender pay gap report 2019 united kingdom mckinsey. Appointments, pay, performance and gender this paper uses uk data to examine issues regarding the scarcity of women in boardroom positions. Female investment bankers at barclays get bonuses that are 79. We believe that building the diverse and inclusive organisation we want barclays to be starts with an honest assessment of where we are today. Mercer explaining the uk gender pay gap reporting regulations.
In 2014 we became the first ftse 100 organisation to make a public commitment on gender equality in our helping britain prosper plan. Barclays has a number of development programmes across the world designed to identify talented women and help them progress through the organisation. Any employer who is not listed in schedule 2 and has 250 or more employees on 5 april must publish their report by 4 april of the. The average pay gap at lloyds currently sitting at 31. For more information please read the press release from the minister for women and equalities and david isaac, chair of the equality and human rights commission.
Apr 05, 2019 barclays bank narrowly reduced its gap from 43. Barclays investment division sparks fury by paying female. Although the gender pay gap is closing incrementally, pay parity between men and women in the uk is not forecast to be achieved until 2069. Barclays reveals big gender pay gaps across uk banking group. The bank revealed in its 2017 annual report today that the median average salary gap between male and female employees at its international division. At the time, 65% of barclays colleagues were women and mary worked hard to promote equal opportunities. Dec 21, 2012 barclays has a number of development programmes across the world designed to identify talented women and help them progress through the organisation.
Barclays has signed up to the women in finance charter, which commits signatories to supporting the progression of women into senior roles in the financial services sector. According to the banks annual report, womens salaries at barclays uk are 26% lower than men. Just over 10,000 companies employing more than 250 people in england, scotland and wales have disclosed their figures, although reportedly more than 500 are yet to publish and may face possible fines and reputational damage. Gender pay statistics compare the average and median rates of pay between men and women in an organisation. Mean gender pay gap at hsbc bank in the uk 2019, by entity. Barclays is the first big uk lender to publish its gender pay gap data since the government passed a law forcing all companies with more than 250 staff to do so by april. Mar 09, 2018 barclays pays female employees within the division that houses its investment bank nearly 45% less than their male counterparts, with the uk group struggling to promote women to senior positions. As was the case last year a gender pay gap was anticipated in the analysis of pay that includes bonus, commission etc. Feb 22, 2018 released on the day barclays slid to a near.
Feb 12, 2016 gender pay gap league tables to name and shame companies nicky morgan, the education secretary and equalities minsister, announces plans to publish league tables of the gender pay gap of all. Different jobs are paid at different levels, and a gender pay gap exists where there is a difference. The gender pay gap in the financial services sector. The figure came as part of barclays annual report, which also revealed the gap for barclays ukthe high. The high street bank published gender pay gap figures. City investment banks reveal gender pay gap data financial. It reflects the difference between average male pay and average female pay in an organisation, which is. Results from barclays bank uk and barclays services were slightly better, but still showed that womens mean hourly pay was on average 26% lower than that of men in the organisations. The barclays gender agenda focuses on engaging women and men across their organization to attract, develop, and retain women at all levels. The figure came as part of barclays annual report, which also revealed the gap for barclays ukthe high street bank operationsat 26%.
Thousands of employers will publish their gender pay gap figures for the first time from today april 6, helping break the glass ceiling and create a more modern workforce. These show that while the mean gender pay gap for fixed pay in the uk bank is 26% and the bonus gap stands at 60%, the figures are much higher in barclays international, the investment bank. Companies in britain, recently forced to publish the differences in salaries between men and women, are trying a variety of ways to close the divide. Barclays gender pay gap largest in financial services. Part of the variation can be explained by different patterns of social partnership. Barclays, lloyds bank and rbs reveal gender pay gap. By 1979, barclays was employing 38,000 women in the uk, and importantly, 266 were managers and 9 were branch managers. Barclays reports shocking gender pay gap accountancy daily.
Barclays gender pay gap revealed helia ebrahimi economics correspondent in the latest revelation in the debate over gender pay it has emerged that women working at. In compiling our figures, we have included all of our uk partners. In 1983, with women making up 65% of the barclays workforce, mary baker became the banks first female director. The gender pay gap gpg exists in every european country, but it varies considerably, even in eu member states covered by the same legal principles on pay equality. Why would such a seemingly conservative and lets face it, male dominated organisation lend its weight to a campaign that aims to engage one billion men and boys as advocates and agents of change for the achievement of gender equality and womens rights. The public availability of gender pay gap information will encourage employers to take actions to reduce.
Feb 23, 2018 barclays is paying women bankers nearly half that of men. Major uk banks sign charter pledging to tackle gender gap. Yesterday, barclays revealed a huge pay disparity pdf between men and women. The paper examines appointments, pay and any associated productivity e. Gender pay gap league tables to name and shame companies nicky morgan, the education secretary and equalities minsister, announces plans to. Feb 23, 2018 the gender pay gap for bonuses is even more stark. Uk banks among companies with largest gender pay gaps. You can also order them through telephone banking if. Female investment bankers at barclays get bonuses that are. Barclays criticised for shocking pay gap with women paid.
To close gender compensation gap at uk banks, agility pays. For information on barclays bank uk groups gender pay gap results for. Female staff at investment bank division barclays international get 43. The gender pay gap reporting regulations came into effect 5 april 2017, with organisations in great britain over 250 employees being required to publish their results on their website and upload them to a government website by 4 april 2018. Mar 22, 2016 major uk banks sign charter pledging to tackle gender gap.
Gender breakdown by grade female male partner director senior manager and manager below manager headline gender pay figures for deloitte uk the tables below show our overall median and mean gender pay and bonus gap based on hourly rates of pay as at the snapshot date of 5 april 2017, and bonuses paid in the year to 5 april. Barclays, run by chief executive jes staley, pays its female investment bankers about half what it pays men in t. The gender pay gap and social partnership in europe. Mean gender pay gap at lloyds banking group in the uk 201819, by entity. Barclays reveals big gender pay gaps across uk banking. Barclays is the first big bank to report its gender pay figures and chose to do so on the same day its annual results were released. Appointments, pay and performance in uk boardrooms by. Gender pay gap report 2018 2 gender pay gap report 2018 reducing the gender pay gap at barclays i confirm that the information contained in this report is accurate. James moore barclays investment bank is proving its worth. The public availability of gender pay gap information will encourage employers to take actions to reduce or eliminate their gender pay gaps prior to. The bank published its gender pay gap figures for the first time in its latest annual report.
The bank employs 79,900 globally, of which about 44 percent are female. With regard to discretionary bonuses paid to employees at barclays corporate and investment bank entities, the gender gap has increased to 79%. If an employer is listed in schedule 2 of the equality act 2010 specific duties and public authorities regulations 2017 opens in a new window and has 250 or more employees on 31 march, then they must publish their report by 30 march of the following year. Women at barclays bank uk, which services retail and consumer. Hsbc has worst gender pay gap among britains largest. Gender pay gap league tables to name and shame companies. Women in barclays investment bank earn half as much on. Barclays joins a handful of major financial institutions that have disclosed gender pay gaps.
Appointments, pay and performance in uk boardrooms by gender. This is highlighted most vividly by the pay quartile data on the previous page, which reinforces the need. Women in barclays international unit make half of what men. Barclays plc gender pay gap data for 201920 reporting.
The uk is one of the first countries in the world to require gender pay gap reporting and follows the governments commitment to introduce the requirements at the last election. But we do have a gender pay gap because we have a larger proportion of men in senior roles, and a larger proportion of women in support roles, such as eas. The british government last year said it would require all companies with more than 250 employees to. To order a new chequebook or paying in book through online banking. Barclays ceo on gender, race and sexuality in banking. Research has shown that leadership teams with greater diversity, particularly gender, develop better solutions and foster a more open, collaborative environment. Following on from the release of our annual report 2019, our 2019 uk gender pay report is now available to view. Barclays group employment numbers by country 2019 statista. Barclays has been criticised for a shocking gender pay gap at its investment bank, where women are paid half as much as men on average. There have been some important changes to enforcement of the gender pay gap reporting regulations this year due to the impact of covid19 on employers.
Barclays reveals gender pay gap of nearly 45% financial news. Barclays latest news, breaking stories and comment the. Bank first big uk lender to publish gender pay gap data under new law thu, feb 22, 2018, 16. In 1988, mary became a director of barclays plc, a role she held until her retirement in 2000. Barclays pays female employees within the division that houses its investment bank nearly 45% less than their male counterparts, with the uk group struggling to promote women to senior positions. For this reason, lloyds banking group has made a commitment to be a leader in gender diversity. We are confident that as we continue to progress towards a gender balanced workforce, our gender pay gap will reduce. For lloyds bank group, barclays, the royal bank of scotland and nationwide, there was an increase of overall.
Commenting on the gender pay gap at barclays international, which was announced today, rt hon. When we moved to this job share arrangement in 2016 w. The next largest gender pay gaps were at virgin atlantic, where men received 58 percent more on average more than women, followed by a unit of barclays, where female staff earned 48 percent less. Women in barclays international unit make half of what men earn. Why there is a huge gender pay gap at barclays, rbs, and. Having a gender pay gap does not mean that women are paid less than men for doing the same. The equality act 2010 gender pay gap information regulations 2017 requires employers with 250 or more uk employees to publish gender pay information on an annual basis.
In its annual report published today, royal bank of scotland rbs revealed a gender pay gap in great britain of 37. You can also find these links on the online banking home page, click on view all services at the bottom of the service centre panel. One of the biggest banks on wall street on thursday unveiled an eyepopping pay gap. Significantly, the gap in starting salary between men and women who have studied stem subjects and go on to take jobs in those. It makes hsbc the worst performer for gender pay disparity among uk banks that have issued data.
Feb 23, 2018 barclays is the first major uk bank to make a gender pay gap disclosure under new rules that require any organisation with 250 or more employees to publish the data. Barclays plc and the term bank refers to barclays bank plc. The uk retail bank has a smaller gender pay gap, with women earning 14. Whilst we observe some small positive changes, overall our. One way of reducing the gender pay gap is to increase the proportion of women in more senior roles, so it appears that barclays is on the right track. Three of the uks big four banking groups have reported their gender pay figures, with barclays international its corporate banking business and investment division publishing a 43. The 5th of april 2018 marks the end of the first year of disclosures under the new uk gender pay gap reporting requirements. Mary baker became the first female director of barclays bank uk on 1 january 1983. Feb 26, 2018 three of the uks big four banking groups have reported their gender pay figures, with barclays international its corporate banking business and investment division publishing a 43. Our businesses include consumer banking and payments. Why there is a huge gender pay gap at barclays, rbs, and in. Feb 22, 2018 the disparity in barclayss gender pay is exacerbated by a disproportionate number of men in senior positions at the bank. Technology, career pathways and the gender pay gap. Gender pay gap reporting is a uk specific requirement.
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