Schroders become the first FTSE 100 company to release gender pay gap data

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Schroders has become the first FTSE 100 company to release their gender pay gap data, ahead of the new government regulations.

The global asset and wealth management organisation has revealed a mean gender pay gap of 31 per cent, based on hourly fixed pay across its global workforce.

Schroders also found that bonuses for female staff were 66 per cent less on average than bonuses for male staff.

More than half of Schroders’ global employees are men and the proportion of female to male staff that received variable pay is 95 per cent to 96 per cent.

The new gender pay gap reporting regulations are due to come into force in April and will require all employers with 250 or more employees to measure and report their gender pay gaps for the first time.

A spokesperson for Schroders said, “We are committed to striving for gender equality across our business.”

“Our decision to publish this data is a tangible demonstration of this commitment.”

Lord Howard of Penrith, chairman of the remuneration committee at Schroders, said, “As one of the first signatories of the Women in Finance Charter in the UK, we are committed to increasing the representation of women within senior management.”

“We targeted 30 per cent representation by 2019. Having made significant progress, moving from 25 per cent at the end of 2015 to 29 per cent this year, we have increased our target to 33 per cent.”

“This year we have disclosed gender pay gap data for the first time, in advance of UK disclosure rules coming into effect in April 2017.”

“This shows a gap of 31per cent to 33 per cent for salary and other cash allowances per hour and 59 per cent to 66 per cent for bonus, though these figures may be misleading.”

“Our analysis of comparable roles show that we reward men and women fairly for similar work and that the gap reflects the lower representation of women at senior levels within the organisation.”

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