British bank HSBC to disclose 59 percent gender pay gap

Women working in the food industry Mangalore | Source Max Pixel

HSBC (HSBA.L) will reveal a gender pay gap of 59 percent at its main United Kingdom banking operation, the biggest yet disclosed by a British bank, according to a copy of the lender's report on the subject seen by Reuters on Thursday ahead of its publication. For employees that received bonuses, the median gender pay gap for the variable compensation was 86%.

Meanwhile, women hold 67% of the bank's junior roles.

Female graduates start on a median salary of £18,300 compared with £19,900 for men, and the £1,600 pay gap gets bigger over time.

A spokeswoman for the bank confirmed the contents of the report.

The median gap, which takes the mid-point when all wage rates are lined up from the biggest to smallest as a way to reduce the impact of one-off outliers, remained steady at 29%.

HSBC has reported a 29% median gender pay gap for its United Kingdom banking operations. (The median pay gap in the United Kingdom was 9.1% a year ago, according to the Office for National Statistics.) At HSBC, the disparity between the mean and median pay gaps is further evidence of how few women there are in higher paid positions.

It has also expanded opportunities for mentoring for women in well-paid global banking and markets roles and said it was encouraging flexible working and shared parental leave. Other firms are yet to submit figures ahead of the April 4 deadline set by Theresa May. About 2,250 have filed figures so far, but the legislation is expected to affect about 9,000 companies, which collectively employ more than 15 million people.

On Thursday, British luxury brand Burberry revealed that its female staff earned an average 25.9% less per hour, despite making up the majority of employees at every pay quartile.

Nearly 50 years since the passage of Britain's equal pay act, the continued gulf in earnings between men and women has attracted significant public attention over the past year or so.

HSBC said women held only 23 percent of senior leadership positions in its workforce in Britain, despite accounting for more than half of total staff.

Related News:

  • PM Trudeau visiting Hamilton, Ont. to show support for steel workers

    PM Trudeau visiting Hamilton, Ont. to show support for steel workers

    However, he said, Canada would be alert to that and work with industry partners and the Americans to make sure that didn't happen. Marie, Ont., part of a three-day meet-and-greet tour of communities where steel and aluminum manufacturing are major employers.
    NRA files federal lawsuit to block new Florida gun law

    NRA files federal lawsuit to block new Florida gun law

    Florida's new law makes it one of just three states, including IL and Hawaii, that set an age limit of 21 for rifle purchases. It also creates a so-called guardian programme enabling some teachers and other school employees to carry guns .
    India grounds Pratt-powered A320neos

    India grounds Pratt-powered A320neos

    Both IndiGo and GoAir have been told not to refit these engines, which are spare with them in their inventory", DGCA said. The move immediately grounded eight aircraft at IndiGo , India's largest carrier, and three at GoAirlines India Pvt.
  • NASA starts ATLO process for its future Mars Rover mission

    NASA starts ATLO process for its future Mars Rover mission

    The statement comes ahead of Sunday's presidential election, in which he will nearly certainly win a fourth term. NASA hopes the mission will help to answer key questions about the potential for life on Mars .
    '90s rapper Craig Mack dies at 46

    '90s rapper Craig Mack dies at 46

    The music magazine noted a video in which Mack, who became a minister, said he traded a life of "wickedness" for "righteousness". He was ready", Toney said . "I can not believe this dude is gone", DJ Scratch recently stated on Instagram .
    Democrats split on rolling back Wall Street reform bill

    Democrats split on rolling back Wall Street reform bill

    After 18 months, those requirements would no longer apply to banks with assets ranging from $100 billion to $250 billion. Elizabeth Warren , a Massachusetts Democrat and a leading liberal who is a vocal critic of changing the law.
  • Clark County drops to 10th in Nevada in county health rankings

    Clark County drops to 10th in Nevada in county health rankings

    The full state report found that 13 percent of children live in poverty in the state, compared to the 20 percent national average. McLean County has a 29 percent adult obesity rate which is higher than the state average. "I knew Broome County could do better".
    Rapper Juelz Santana Charged With Trying To Bring Loaded Gun On Plane

    Rapper Juelz Santana Charged With Trying To Bring Loaded Gun On Plane

    But that's not the only brush with law enforcement the " There it Go (The Whistle Song)" performer has had in New Jersey. It wasn't clear if he's retained an attorney regarding the weapons and drug possession charges he's facing.
    How to watch Elon Musk's Q&A at SXSW

    How to watch Elon Musk's Q&A at SXSW

    When Falcon Heavy lifted off, it became the most powerful operational rocket in the world by a factor of two. Side blocks rockets returned to Earth shortly after launch, and Central crashed while landing.
  • Sooners Get into NCAA Tournament, Cowboys Left Out

    Sooners Get into NCAA Tournament, Cowboys Left Out

    Mary's, in contrast, has a much lower RPI (41), and a non-conference strength of schedule of 183, hurting the Gaels' chances. We know that the fans have done a really good job of being out there and supporting the team throughout the year.
    Android users more loyal to their smartphones than Apple's iOS users

    Android users more loyal to their smartphones than Apple's iOS users

    This is measured as the percentage of US customers who retained their OS platform when they upgraded their smartphones in 2017. Around 91 percent of the people chose to stay with the Android operating system while 86 percent stayed with iOS.
    Former Trump Aide Nunberg Subpoenaed in Russia Probe (Audio)

    Former Trump Aide Nunberg Subpoenaed in Russia Probe (Audio)

    Nunberg, who worked on Trump's staff early in the campaign , has largely escaped public involvement in Mueller's investigation. At the time, Nunberg's firing was viewed as part of a broader struggle between Trump aides Corey Lewandowski and Roger Stone .


Most liked

One more day of sunny, warm weather in Billings
Partly sunny skies and a high of 44 degrees are expected Saturday , with more rain and snow possible Sunday and Monday . Northwest winds between 10 to 15 miles per hour , gusting to 20 miles per hour , may contribute to blowing snow.

Mark Hamill wanted Luke to survive through to Episode IX
Some of the scenes seemed a little too far-fetched and I missed some of the movie magic that makes Star Wars such a revered brand. As he accepted his star, Hamill told the crowd he was struggling to convey the depth of his gratitude.

HBO Execs Tease Multiple Deaths in 'Game of Thrones' Final Season
While the series will end with a six-episode season, HBO hopes to continue the magic with multiple spinoffs now in development. She added that everyone stood for over 15 minutes and applauded-"It was fantastic ".

No evidence of Trump campaign-Russia collusion, committee Republicans say
Intelligence Community's findings that Russian Federation had preferred a Trump presidency to that of Hillary Clinton. However, it remains possible - or likely - that the Democrats will push to release a second, competing report.

Chris Hemsworth praises Vancouver, surprises fans at Rugby Sevens
The Aussies racked up two tries in the first four minutes and a third converted try by John Porch saw them lead 19-0 at the break. The second half was a case of things fall apart for Kenya as Fiji scored 19 unanswered points to pull away with 31-12 victory.

Pyongyang still silent on Kim-Trump summit
Trump said Saturday that he believes North Korea will abide by its pledge to suspend missile tests while he prepares for the summit.

Phillies Sign Jake Arrieta
The signing actually does make the Phillies borderline wild card contenders, as their offense boasts young and potent bats. Arrieta pitched fairly well even in a down season past year , posting a 14-10 record with a 3.53 ERA and 1.218 WHIP.

Bannon to attend French far-right summit, meet Le Pen
Bannon has publicly praised Marechal-Le Pen in the past, and she spoke at a recent convention of US conservatives. Marion Marechal-Le Pen, a former lawmaker, is more socially conservative and economically liberal than her aunt.

UNC Basketball: Joel Berry sets new program record with win over Duke
With a victory over the Cavaliers , North Carolina would boast 14 quadrant 1 wins, more than any other team in the country. All boast double-figure scoring averages, and Duke averages 85 points per game on the season.

Erdogan: Turkish Troops to Enter Afrin Town at Any Moment
The 21-year-old said he got separated from his family after the terror group YPG/PKK fiercely occupied his hometown. Turkey now controls five out of seven of the settlements in the northwest Afrin region, state media said.

Bombing In Shiite Area In Kabul Kills Seven - Taliban Kill Ten Policemen
Those killed in the missile strike included 16-year old Abdullah, the elder son of Mullah Fazlullah Khurasani. Under his leadership, LeI operatives have attacked North Atlantic Treaty Organisation convoys.

Mother being picked up by Border Patrol officials caught on camera
In the video you can hear sounds of her three young daughters, all USA citizens screaming as she was taken away. Morales-Luna, 36, is a single mother who came to the USA from Mexico when she was 15 years old, Moreno said.

Papua New Guinea: At least 18 killed in quake aftershock
A resident receives medical treatment after an natural disaster in Papua New Guinea in this handout image released March 7, 2018. He said help from overseas and from local aid agencies was slowly coming in.

Nashville mayor who grew up in Overland Park resigns after affair
Barry tweeted minutes after her resignation, saying that it was the "privilege" and "honor" of her career to serve as mayor. Barry travelled alone with Forrest on nine of the trips, including one to Greece in September, according to the newspaper.

WaPo: Erik Prince, Seychelles Meeting Possible Kremlin Back Channel
That effort was not successful, according to Prince's statements in a subsequent deposition. Nader couldn't be reached for comment and his lawyer declined to comment.