Gender pay gap
Building a culture where everyone is treated fairly.
A summary of 2024
Our gender pay gap figure has continued on a downward trend over the last four years, and we’re pleased to report a further reduction in 2024. Over the last 4 years we have successfully narrowed the gender pay gap by implementing several initiatives to support women including:
- Hybrid working
- Flexible working
- Partnership with the Women in Finance Charter
As part of our Diversity and Inclusion strategy we also made improvements to further support colleagues. This included an enhanced paid parental leave policy.
We’re always working to become a more inclusive place to work and will continue to put things in place to attract and keep the best talent. We’ll keep using our Diversity and Inclusion strategy to accelerate and improve our focus on under-representation across our organisation.
Gender pay gap figures for 2024
Our 2024 figures show the average difference between men and women is 24%; a small reduction from last year’s figure of 24.6%. The gender pay gap looks at the difference in the average pay between all men and all women, and describes this difference in a single number (the data includes pay across all levels and roles).
Calculation methodology
The mean figure is the difference between the average of the pay for men and women and is calculated by adding up each pay rate or bonus and dividing by the number of total employees.
The median figure is the middle value of all the pay rates or bonuses, when all of these figures are arranged in order.
Gender diversity in leadership roles
Our overall gender representation across the organisation is 60.4% female and 39.6% male, with higher male representation in senior roles and higher female representation in junior roles.
These colleague demographics are influenced by higher numbers of women choosing part-time work, which we are proud to support. We aim to provide opportunities for colleagues to get the right balance between work life and home life. Our market leading hybrid working policy highlights our commitment to making sure colleagues have access to the right working locations and environments to suit them.
Pay and wellbeing
We launched our hybrid working policy in 2022 as part of our commitment to providing colleagues with the opportunity to choose when and where they worked.
This has given colleagues greater freedom to balance work and home life.
The overall wellbeing of our colleagues continues to be a key focus for us and we continue to invest in projects and programmes to support this.
Last year we re-confirmed our commitment to the Real Living Wage Foundation, and joined many other businesses in committing to a fair rate of pay which meets everyday needs.
We are looking forward to continuing this partnership, driving fairness in our pay structures and ensuring colleagues are supported.