Advice, platform and investment group Quilter has revealed its gender pay gap figures for 2018, showing a mean bonus gap of 70 per cent between male and female employees.
Overall, there was slight progress in the mean pay gap, which dropped from 39 per cent to 35 per cent, and the median bonus gap, which ticked down from 41 per cent to 39 per cent.
However, the median pay gap remained flat at 29 per cent and the mean bonus gap was still 70 per cent.
Chief executive Paul Feeney acknowledges that”there is still significant work to be done to close the gender pay gap both within our organisation and across the industry”.
He says: “Creating an inclusive culture is key to creating a business which excels in an increasingly competitive environment. It is my firm belief that our business can only best serve its customers if it reflects their own diversity.”
Quilter says that the main reason a gender pay gap still exists is that more men occupy senior management and revenue-generating roles, while more women occupy junior and part-time roles.
The group’s target set in 2017 was to have 35 per cent, or ideally 40 per cent, female representation at senior management level by the end of 2020.
All senior hires must show they have a diverse shortlist of candidates when recruiting, while the group has also set up inclusion and diversity objectives for executive committee members and a female mentoring programme.