Barclays Investment Bank Pays Females Half That of Males

Barclays Plc pays feminine employees at its investment financial institution division just under half as much as man colleagues on average, highlighting the sex imbalances in the industry and the concentration associated with men in highly paid functions.

The gender pay gap widens to 79 percent for discretionary bonuses paid to employees in its international unit, which homes the corporate and investment bank, mentioned the London-based company, the first main bank with British operations to reveal such data.   At the Oughout. K. ring-fenced bank, women gain 26 percent less than men and obtain bonuses that are 60 percent decrease, according to the lender’ s annual review.

Barclays is “ confident that will men and women across our organization are compensated equally for doing the same work, ”   Chief Executive Officer Jes Staley told reporters Thursday. “ I wish to make it clear that Barclays is doing the part in the long evolution associated with providing gender equality. We are never going to give absolute targets, but we’ d like to get the gap lower. ”

The difference in Barclays’ s gender spend is exacerbated by a disproportionate quantity of men in senior positions on the bank.   The bank employs seventy nine, 900 globally, of which about forty-four percent are female. Of the 5iphon senior managers, less than a third are usually women, the bank said in the statement. There is only one woman on Barclays’ s nine-member group executive panel, Laura Padovani, who is the firm’ s interim chief compliance official.

The gap within pay at Barclays is “ shocking, ” said lawmaker Nicky Morgan, chair of the U. E. parliament’ s Treasury Committee. “ Barclays has signed up to the Females in Finance Charter, which commits signatories to supporting the development of women into senior roles within the financial services sector. One way of reducing the particular gender pay gap is to boost the proportion of women in more senior functions, so it appears that Barclays can be on the right track. ”

Up to now, fewer than 1, 200 companies have got provided the newly required disclosures, out of more than 9, 000 approximated to be eligible, according to a federal government website. Banks including HSBC Holdings Plc , Goldman Sachs Team Inc., JPMorgan Chase & Company. are yet to disclose their figures. Firms with 250 employees or even more in Britain have until 04 4 to report the difference among what men and women earn.

For more on the gender pay space in the U. K., click here

" There’ s simply no silver bullet; for banks plus City firms it’ s regarding getting more women established in mature executive roles, so they can in turn add a culture that’ s a lot more attuned to the needs of both males and females, " said Dominie Moss, originator of The Return Center , which places women coming back from career breaks in financial-services jobs.

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