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Charles Stanley gender pay gap widens

Discretionary fund manager Charles Stanley has seen its gender pay gap creep up, but says it is continuing to make progress.

The DFM has added its name to a list of investment firms reporting its gap early.

The mean pay gap for the period from April 1, 2017 to April 1, 2018 increased by 2.6 percentage points to 37.4 per cent.

Charles Stanley chief executive Paul Abberley said that the figures are impacted by the fact that a high proportion of the firm’s senior staff are male, including investment managers.

The gender pay gap compares the renumeration of female and male workers at the company over period, regardless of their position at the company.

Charles Stanley HR director Kate Griffiths Lambeth says: “It will take time for the full impact of some of our more recent measures to start to feed through to into reported gneder pay gap statistics but they show we are deeply commited to tackling the gender pay disparity.

“The challenge is to encourage more women into the profession, retain them by providing the relevant support and career opportunities along the way and ensure they reach senior positions to redress the balance.”

Abberley expressed commitment to increasing female representation at the senior management level, and said the DFM met its goal to raise it from 28 per cent to 30 per cent two and a half years before self-assigned deadline.

From 2017, companies with 250 or more employees have had to publish and report specific figures about their gender pay gap. This year’s deadline for gender pay gap report is April 4, 2019.

While the percentage of women receiving a bonus outsripped men (82.1 per cent compared to 78.6 per cent), the bonus pay gap remained over 70 per cent.

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