Women graduate straight into gender pay gap

Women graduate straight into gender pay gap

The mean woman's bonus was 84 per cent lower than men, with a mean gap of 57 per cent.

HSBC, the UK's largest bank, said today that it also has the largest gender pay gap among large banks.

The figures are for HSBC Bank, the group's biggest United Kingdom entity, which employs more than 23,500 people.

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.

The bank, which employs more than 23,000 people in Britain, is reportedly taking steps to reduce the pay gap, including committing to an aspirational target of women holding 30 per cent of senior roles by 2020. Only 23% of the bank's top brass in the United Kingdom are women.

The disparity is wider than at Barclays, which said in February that women at its corporate and investment bank earned on average 48% less than male employees.

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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.

Based on median hourly earnings, 74% of companies pay men more than women, while 15% pay women more than men and 11% report no difference.

The gender pay gap is the biggest yet reported by a British financial firm, according to government data, with some firms yet to provide figures ahead of an April deadline set by Prime Minister Theresa May a year ago.

"We recognise that there is more work to do to address our gender balance at senior levels", the lender said.

While the Government move is created to highlight the pay gulf between the sexes, it is different from equal pay which tackles the difference between men and women who carry out the same job.

Marco Gobbetti, chief executive of Burberry, said: "With women making up 70% of our 3,500 employees in the United Kingdom, we are committed to narrowing this gap as we work to develop more women leaders to drive the growth and success of our business".

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