Finance and insurance sectors have the largest gender pay gap - research

30/07/2018 News Team

The finance and insurance sectrors have the largest gender pay gaps across UK employers of 26.9 percent and the largest bonus pay gap (54.6 percent), according to analysis conducted by XpertHr.

Construction (23.3 percent) and mining and quarrying (20.6 percent) followed closely behind in the data which analysed over 10,000 first-round gender pay gap reports.

According to the analysis, the mean gender pay gap across UK employers with over 250 employees is 13.3 percent percent and the mean gender pay bonus gap is 20.1 percent.

The data also showed that there is no clear correlation between an organisation’s size and its gender pay gap. The largest gaps are in organisations with between 250 and 999 employees (mean 14.2 percent) but the gap is narrower in the very largest companies and the smallest. 

Each industry’s gender pay gap was mapped against the percentage of men in the top pay quartile and established a line of best fit through the data points and in the finance industry the gender pay gap is more than double a figure which can be explained by the fact that there are more men in top positions. 

XpertHR content director Mark Crail said: “Our analysis reveals that the gender pay gap can’t be explained simply by there being an over representation of men in top positions in companies. Several other factors are clearly driving the gender pay gap. 

“However, there is a clear pattern when it comes to the size of bonus pay gaps and the size of an organisation. The larger the organisation, the larger the gender bonus gap. Those organisations with more than 20,000 employees have a mean bonus pay gap of 35.3 percent, while those with between 250 and 499 employees have a mean bonus pay gap of 16 percent.”

XpertHR runs a Gender Pay Gap Reporting Service which helps employers to understand and report their gender pay gap figures.

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