Barclays pays women investment bankers half what it pays men

  • Barclays pays women investment bankers half what it pays men

Barclays pays women investment bankers half what it pays men

Apart from a 48 per cent mean gender pay gap between the mean hourly pay of men and women in its Barclays International unit, the British bank added that its median gender pay gap was 43.5 per cent.

Tesco's United Kingdom and Ireland chief executive Matt Davies said: "While we're pleased that our gender pay gap of 8.7% is significantly below the United Kingdom median, we want to close the gap altogether". The number of men in the highest-paying quartile within the organization is nearly double, at 66.2%, than women, at 33.8%, while those figures are reversed for men and women in the lowest-paying quartile.

At the time both firms said men and women in the same roles were paid the same, and put the gender pay gap down to having more men in higher-paid positions.

Tesco has revealed a gender pay gap of 8.7 per cent, making it the first of the big grocers to report its figures ahead of a government deadline in April.

Men working for Barclays' worldwide division got paid bonuses that were more than double those of their female colleagues a year ago, with far fewer women occupying senior roles.

This is different to equal pay, which refers to men and women receiving equal pay for equal work.

"As one of the fastest growing businesses in the United Kingdom attracting and retaining talent is a key priority for us, and we are absolutely committed to ensuring our staff are paid fairly, irrespective of gender or any other aspect of diversity".

Barclays joins a handful of major financial institutions that have disclosed gender pay gaps.

The Financial Conduct Authority, the U.K.'s independent financial services regulator, reported a mean hourly gender pay gap of 19.3% lower for women and a median gap of 20.9% lower.

"When we remove the premium payment from the calculation, then the gender pay gap reduces even more significantly to a median of just 2.7 per cent".

"When we analysed the bonuses of full- and part-time colleagues on an equivalent basis - that is, taking into account pro-rating for part time colleagues - the overall bonus gap was lower (7.1%) which is similar to our overall gender pay gap", he explained.

Lloyd's of London has a gender pay gap of 27.7%, reflecting the difference between the average pay for men compared with the lower amount paid to women within the organization.

Tesco's Gender Pay Report comes as the government prepares to implement new rules from April whereby businesses with more than 250 employees have to publish annual figures breaking down pay.

Around three in four businesses are paying male employees more than their female colleagues, the latest Government data shows.