Women earn up to 43% less at Barclays
Female employees earn up to 43.5 percent less at Barclays than men, according to gender pay gap ¿gures it has submitted to the government.
Only 28 of the 1,154 companies that have reported the ¿gures have a higher median hourly pay gap than Barclays, according to BBC.
Barclays chief executive Jes Staley said it had ‘more work to do’ so women could progress in ¿nancial services.
However, Barclays said that it paid men and women in the same roles equally.
The 43.5 percent average gender pay gap reàects its investment bank division, Barclays International. For its UK retail bank, women earn 14.2 percent less than men on average, while the ¿gure is 29.9 percent for the holding company, Barclays Services.
The bank has not produced an overall ¿gure for the three divisions.
Nicky Morgan, chair of the Treasury Select Committee, described the pay disparity at Barclays International as shocking, adding: “Financial ¿rms should be prepared to explain any gender pay gap that they may have.”
Staley said: “Although female representation is growing at Barclays, we still have high proportions of women in more junior, lower paid roles and high proportions of men in senior, highly paid roles.
“There has been improvement across ¿nancial services but progress has been slow within the industry, so we support the objectives and intent of the UK government in introducing gender pay gap reporting to drive equality in both the workplace and in society more widely.”
Of all ¿nancial and insurance companies that have submitted their ¿gures, the median pay gap is 14.8 percent.
The imbalance at Barclays UK was further highlighted by its pay quartile ¿gures, with women accounting for 73 percent of the lowest-paid employees.
Women’s bonus pay at Barclays UK was 46.9 percent lower than that for men on the median measure.
Barclays is the ¿rst big bank to report its gender pay ¿gures and chose to do so on the same day its annual results were released.
Women earn 38.4 percent less at Virgin Money, while insurer Aviva has a median pay gap of 27.6 percent.
Both ¿rms, along with Barclays, have said they pay men and women in the same roles equally.
UK companies with 250 or more employees — about 9,000 ¿rms — must calculate their gender pay gap and publish it on a government website by April 4, or March 30 for the public sector.