UK gender pay gap wider at larger firms

The deadline has now passed for UK based companies to report their gender pay gap and data shows that in many cases larger firms have the widest gaps.

UK gender pay gap wider at larger firms

As the deadline for companies to report their gender pay gap in the UK has now passed, it’s interesting to see just how much more (or less) men are paid than women, for doing the same or a similar job.

Analysis by The Times, shows that some of the worst performers, where women are paid notably less than their male counterparts for fulfilling the same job function, are larger businesses. HSBC and Anglo-American both pay their male staff over 50% more on average, than their female staff.

Average UK gender pay gap

While the release of figures showing the difference between how much men and women are paid while working for the same firm have uncovered some significant gaps, official data show that the average gender pay gap across all businesses, is still something to take notice of.

Office for National Statistics data shows the average gender pay gap across UK business with 10 or more employees, is around the 20% mark. For businesses with nine or fewer employees, the average gender pay gap in 2017 was 12.4%.

Looking at the UK’s public sector, meanwhile, it appears male Government employees generally earn more than their female counterparts, too.

However, there have also been the rare instance where women are paid, on average, more than men. That was the case at Ocado where women are paid 1.4% more than men, and Britvic, where the gender pay gap in favour of women, was 4.8%.

#PayMeToo

As all companies must now share details on their gender pay gap, a new campaign led by UK Labour MP Stella Creasey has been launched to encourage women to demand action from their employers.

The paymetoo.com website gives easy access to data from business with more than 250 employees who have had to share their gender pay gap details. In addition, it’s attempting to empower more women to challenge their employers over why men are paid more for doing the same job.

While revealing gender pay gaps may seem designed to increase women’s pay – that’s not quite true. It’s about have fair pay across the sexes. And, it could also be used by employees to pick out the firms they would be proud to work for – and where they would be fairly rewarded, too.

As of 16:51 BST, Monday, 02 April, HSBC Holdings plc share price is 565.65p.

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