Gender Pay Gap and Diversity reporting in the Financial Services sector in 2020/21

2022 represents the 5th year of UK mandatory gender pay gap reporting for companies employing over 250 employees. With 4 years of reporting data, trends on which sectors have made the greatest progress in closing gaps, taking accountability and driving change are clear.

What is happening in Financial Services (FS)?

The top five gender pay gaps by sector are all within Financial Services and change to close these gaps is happening slowly. With the increasing focus on ESG, fairness & equality from the public, regulators and employees, it is important for FS organisations to demonstrate progress in this space.

The average pay gap stands at 26.6% for the FS market, which is significantly higher than the 12.1% seen in the wider UK market. This combined with the increased scrutiny around fairness and equality, means the FS sector needs to take action now. Our report details the steps that FS organisations should take to achieve the changes needed.
The report also takes a look at how far the Financial Services sector has come, how it compares to other sectors and key themes and areas for action for financial services organisations.

Contact us

Katy Bennett

Katy Bennett

Diversity, Equity and Inclusion Director, PwC United Kingdom

Jason Buwanabala

Jason Buwanabala

Senior Manager, Inclusion & Diversity Consulting, PwC United Kingdom

Tel: +44 (0)7841 786964

Follow us