Mind the UK's (gender pay) gap 

Despite efforts to shame companies into lessening pay discrepancies, figures show the UK gender pay gap has risen since 2018. 

Eliza Archer
Eliza Archer NewsMavens, Europe
Mind the UK's (gender pay) gap  - NewsMavens
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Why this story matters:

Despite efforts to close the gender pay gap, figures published in The Times have suggested that the gap has increased since 2018, and has now reached 10%. Of the UK 5,079 companies who have published their data for this year, 43% recorded a greater median pay gap than 2018.

“These figures highlight how far there is to go to tackle the huge gender pay gap. We need more women in senior positions to help drive the culture change needed to tackle these gender pay gaps. Gender pay reporting shouldn’t be a tick-box exercise -- it needs to drive change in business and close the glaring pay gaps which exist in many sectors.” commented Labour chairwoman Rachel Reeves. 

Across UK industries, women were underrepresented in higher pay brackets. The industries with the greatest disparities were mining (26%), finance (23.5%) and construction (22%). The gap in banking and insurance also increased.  

Online banking company Monzo, dramatically improved their pay gap. In 2018 they recorded a gap of 34% that has dropped to 14%. They have also promoted more women to senior positions in the company.

Details from the story:

  • UK companies with more than 250 must publish the figures before Thursday.
  • In 2018 10,550 businesses published their data.
  • The mean gap narrowed from 14.3% to 13.8%, however the median is used to determine the overall pay gap as it less likely to be skewed.
  • The figures are being published to raise awareness of the discrepancy and "shame" companies into action. 
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