British bank HSBC to disclose 59 percent gender pay gap

HSBC pays women 60pc less than men in the UK

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.
    Phillies Sign Jake Arrieta

    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.
    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.
  • Taliban 'elements' interested in talks: USA  defense secretary Jim Mattis

    Taliban 'elements' interested in talks: USA defense secretary Jim Mattis

    There are now 14,000 USA troops in Afghanistan, which is up from the 8,500 around the time President Obama left office. Afghan forces, while "unsteady", probably will maintain control of most major population centers in 2018, he added.
    Khloé Kardashian's All-Pink Baby Shower Was an Instagrammer's Dream

    Khloé Kardashian's All-Pink Baby Shower Was an Instagrammer's Dream

    Craig was still pregnant with her son with Thompson when the latter began his relationship with the Revenge Body host in 2016. And what do you get a super rich 27-year-old? She'll be in a hurry to get it back once her baby gets here.
    Porn star sues Donald Trump

    Porn star sues Donald Trump

    The View spent their Wednesday gossiping over the news that Stormy Daniels is filing a lawsuit against President Trump . However, Trump's failure to sign the nondisclosure agreement, she said, makes it unacceptable.
  • 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 .
    Mark Hamill wanted Luke to survive through to Episode IX

    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.
    Voter's ID, passport will do, Aadhaar not compulsory for NEET 2018 enrolment

    Voter's ID, passport will do, Aadhaar not compulsory for NEET 2018 enrolment

    A 5-judge Constitution bench of the Supreme Court, comprising of Chief Justice of India Dipak Misra and Justices Justices A.K. The court extended the ambit of this order to not just NEET 2018 but all other all-India exams scheduled for the near future.
  • 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 .
    Ireland's Chris Hughton picks up February's Manager of the Month

    Ireland's Chris Hughton picks up February's Manager of the Month

    Earlier, Ryan had some hairy first-half moments, firstly where he flapped at a corner where Yannick Bolasie hit the side netting. The victory was confirmed when the Seagulls lost Anthony Knockaert to a red card for a reckless tackle on Leighton Baines .
    Mother being picked up by Border Patrol officials caught on camera

    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.


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.

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".

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.

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.

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.

Night club's license revoked after horse stunt
A Miami Beach nightclub has been shut down after a stunt involving a live horse prompted widespread outcry. For those of you at @mokaiofficial who participated and allowed this to happen, IT IS Animal Cruelty.

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.

Sri Lanka declares emergency amid anti-Muslim violence
The unrest in Kandy began on Sunday after the funeral of the Sinhalese truck driver, the government said. Police reimposed the curfew until 0600 hours (0030 GMT) Wednesday.

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.

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 .

Anti-Russian sanction 'illegitimate way of competition' - Putin
US spy chiefs have told 21 states they WERE targeted by Putin's hackers before the 2016 US Presidential election. Yanukovych was elected the president of Ukraine in 2010.