The median salary for a female graduate is £18,300 compared with £19,900 for men
HSBC has reported a 29% median gender pay gap for its United Kingdom banking operations.
The gap will widen to 60% this year, the UK's biggest bank said in a report on Thursday. The group's report reveals the gap has increased from 59 per cent a year ago.
Women are paid a staggering 59% less than men, on average, according to the difference in hourly pay in 2017. Of the 2,300 companies that have reported thus far, the financial services industry has revealed some of the biggest pay gaps.
Group head of human resources, Elaine Arden has said that if the company finds any gender pay gap for similar roles, which can not be justified by reasons of performance/ behavior excellence or experience, the company will make appropriate adjustments and decisions.
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%.
That compares with a 43.5 per cent median gap at Barclays International banking group, a 32.8 per cent gap at Lloyds and a 22.6 per cent gap at the Co-Operative Bank. While female employees account for 54% of the bank's workforce, only 23% of its senior leadership positions are occupied by women, HSBC said.
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. This challenges the assumption that the gender pay gap only starts when women have children.
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The memo added that Nike is reviewing its human resources practices and procedure for reporting complaints. Reuters could not immediately reach Nike for comment outside regular business hours.
"We are making progress".
HSBC circulated the information in an internal memo on Thursday ahead of a Government deadline of April 4 when all organisations with 250 staff or more are expected to publish their gender pay gap figures. The national median pay gap, including full and part-time work, is 18.4...
The gender pay gap refers to the difference in hourly earnings between men and women working for an organisation regardless of their roles, rather than men and women in the same role.
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.
The gap was even more stark when focusing on bonuses.
Among large companies, EasyJet, the no-frills airline, previously had the highest mean gender pay gap, at 51.7%.
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