Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world
Americas+1 212 318 2000
EMEA+44 20 7330 7500
Asia Pacific+65 6212 1000
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world
Americas+1 212 318 2000
EMEA+44 20 7330 7500
Asia Pacific+65 6212 1000
The deadline has passed for U.K. firms and organizations to publish their pay gap under new reporting rules, and data filed by more than 10,000 companies brings into sharp detail the imbalance between what women earn on average and what men do. The figures don’t point to pay discrimination, exactly, but they do show how few women hold the most highly paid positions, and in some cases, a lack of bonus parity.
Results are still coming in after approximately 1,500 companies failed to report before the midnight April 4 deadline, according to Equality and Human Rights Commission Chief Executive Rebecca Hilsenrath. Those firms will be contacted next week and may face legal action.
Meanwhile, Nicky Morgan, chair of the U.K. Parliament’s Treasury Committee, has said she might summon bank executives to explain their wider-than-average pay gaps, and the separate Business, Energy and Industrial Strategy Committee has said it will scrutinize how businesses comply with new reporting requirements and examine whether the rules properly capture all relevant data.
What you may have missed so far:
Note: Companies with a pay gap greater than 95 percent are not represented on the chart.Companies with a pay gap greater than 70 percent are not represented on the chart. Companies are represented in the industry breakdown if they have provided an industry in their filings. FTSE100 company analysis is based on as-reported names and incomplete where companies have filed more than once or under a different name.
Men dominate the highest pay quartile in 19 of the 21 areas of the private sector—education and human health and social work. Even in those industries, the majority of firms reported that women on average earned less than men.
“What gets measured gets changed,” said Carolyn Fairbairn, director general of the Confederation of British Industry. “Firms have had plenty of warning and have no excuse for failing to submit their gender pay gap data accurately and on time.”
Source: U.K. Government
With assistance from David Hellier
Editors: Janet Paskin and Jillian Goodman
Design and Development: Hayley Warren, Julian Burgess, Cedric Sam and Jeremy Scott Diamond