UK companies reporting biggest gender pay gaps
Women in the UK are still paid less than men despite the gender pay gap narrowing for the second year running, according to government data.
The latest figures released through the government’s pay gap mechanism show the median pay gap narrowed to 9.8% in the year to last April, from 10% a year earlier.
Analysis of organizations ranging from private companies to charities and government agencies shows that on average women were paid 90.2p for every pound a man earned.
Men are paid more on average than women in the vast majority of sectors, with the pay gap widening in 12 out of 21 sectors. 36% of organizations had a larger median pay gap than last year.
The gap in education amounted to 24.2%, 23.8% in construction and 20.8% in mining and quarrying. But it fell to 22.5% in finance and insurance, against 23% a year earlier.
Analysis by the Chartered Institute of Personnel and Development (CIPD) found that the sector with the largest median gender pay gap was construction, where female employees received just 76p for every pound a man earned.
The median gap in finance and insurance equates to women earning 88 pence per pound compared to a male counterpart, while women working in information and communications earned 83 pence for every pound earned by a man.
Human health and social work activities reported the smallest discrepancies at 98p for every £1, with arts, entertainment and recreation at 96p and transport and storage at 95p.
Charles Cotton, senior policy adviser for rewards and recognition at the CIPD, said “the figures show that very little has changed when it comes to tackling the gender pay gap in Britain. “.
“Employers should not just report the numbers; rather, they should understand the reason for any discrepancy and be transparent about how they plan to resolve it.”
Britain made reporting of gender pay gaps mandatory in 2017 for all companies with more than 250 employees, giving some insight into the gap between women’s and men’s earnings.
Women working at the construction company Kier (KIE.L) won 80p for every £1 earned by men, which means that the median hourly wage is 19.7% lower than that of men. The average hourly wage of women is 20.8% lower than that of men. While women’s salary was 76.9% of men’s.
Asos online retailer (ASC.L) was among the largest companies in the UK with the highest gender pay gaps. He reported a median pay gap of 44.8%, compared to 41% a year earlier. This partly reflects women at the fashion retailer working primarily in customer-facing roles, which tend to be entry-level and lower-paying.
An Asos spokeswoman said it was taking steps to close the gap, “from hiring more women in leadership roles to working with our partners to empower female tech talent.”
Savills Estate Agent (SVS.L) had a median pay gap of 41.1%, similar to 2020. has now resulted in a widening pay gap”.
The UK’s most valuable private fintech company has reported a 96% bonus pay gapor 44p for every pound last year, a reduction of one percentage point from 2020. His average hourly pay gap was 22.7%, down 0.4 percentage points from 2020, while its median hourly pay gap was 25.2%.
Revolut CEO Nik Storonsky said companies “need to do more to ensure fair and equal opportunities for women”.
“As CEO, it is my duty to make this a reality, so that next year and in the years to come, we can report an ever-greater reduction in our gender pay gap,” said he added.
At the other end of the spectrum, women working at British American Tobacco earned £1.11 for every pound men earn comparing the median hourly wage, their median hourly wage being 11% higher than that of men. When comparing the average (average) hourly wage, the average hourly wage for women is 10% higher.
As for bonuses, they earn £1.02 for every £1, or 2% more. Women hold 40% of the highest-paying jobs and 33% of the lowest-paying jobs at the tobacco manufacturer.
Look: Why do we still have a gender pay gap?