Gender pay gap starts early

Gender pay gap starts early

Gender pay gap starts early

HSBC's female staff in the United Kingdom are paid 60 per cent less than men, according to gender pay gap data which reveal one of the biggest differences among the big banks who have reported so far. On this measure, awards handed to male workers were 86% higher than those handed out to women.

The median pay gap at HSBC is smaller, at 29%, more than double the 14.2% median pay gap difference reported by Barclays for its United Kingdom retail banking operations for 2017, but lower than the disparity at Royal Bank of Scotland (36.5%) and Lloyds Banking Group (32.8%).

This challenges the assumption that the gender pay gap only starts when women have children.

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Lloyds Banking Group (LLOY.L) and Royal Bank of Scotland (RBS.L) reported gender pay gaps of 32.8 percent and 37 percent respectively. Meanwhile, two-thirds of junior jobs are done by women.

In January the Financial Times reported that Research Now, an online market research company based in Texas, had the largest gender pay gap recorded by the UK Government.

Barclays, in February, revealed a 48% pay gap and a 78% bonus gap among its global workforce and a 26% and 60% gap among British staff.

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Men earned on average 21.00 euros an hour in 2017, compared with 16.59 euros for women, the Office said.

The gap was driven by the very small proportion of women in higher-paid roles, with women making up only 23 per cent of British senior leadership.

Nearly 50 years since the passage of Britain's equal pay act, the continued gulf in earnings between men and women has attracted significant public attention over the past year or so.

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All companies with more than 250 United Kingdom employees have to disclose their gender pay gaps by April 4.

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