Report finds gender gap highest in finance firms

The financial services sector is on track to have the highest gender pay gap across the economy, according to a data analytics firm.

Staffmetrix said that based on the companies which had so far submitted their gender pay gap data, financial services firms had a median gap of 31 per cent. The gap in bonuses paid to men and women in the sector is even higher, standing at 35.5 per cent on a median basis.

Although the total number of organisations to report only represents a fraction of the 9,000 expected to publish data, Staffmetrix said the figures to date were in line with UK government pay gap data for 2016.

Anthony Horrigan, chief executive of Staffmetrix, said it will be “essential for organisations in financial services to clearly explain the reasons behind their pay and bonus gaps, and how they plan to address it”.

Organisations including the BBC and FT have been among those to face criticism in recent weeks for their pay gaps.