Our total earnings gaps exist because women, ethnic minority and Black colleagues are still under-represented at senior levels. While at face value, some of the headline numbers below present a negative picture, we have seen a rise in female and ethnic minority representation at all grades this year, with the largest headcount increases at the most junior levels. This has a short-term negative impact on some of our pay gaps. We are focused on actions to progress these colleagues through the firm, to ensure greater diversity at more senior levels over time. We remain absolutely committed to the achievement of our gender, ethnicity and Black targets through the plans we have in place to ensure equity of opportunity and experience for all.
Data as at 5 April
The changes in our median and mean total earnings gaps are due to the structure of our firm. We have seen a rise in female representation firmwide with the largest increases at the lower levels.
The movements in our median and mean total earnings gaps are due to increased ethnic minority representation at all levels with the biggest increases at the junior grades.
Our median total earnings gap has increased while our mean total earnings gap has decreased. This is due to growth in Black representation at junior levels.
Pay & Inclusion report
Closing our pay gaps is an integral part of our inclusion strategy. Read more about our gender and ethnicity pay gaps and the actions we are taking to address them, as well as progress against our inclusion agenda and how we are supporting our people’s wellbeing.
Performance and ESG Metrics
This report provides a summary of our performance against the ESG metricsthat underpin our approach as a responsible business. It also includes a high-levelview of our financial performance.