HSBC has worst gender pay gap among Britain's largest companies

Equal Pay Money Graphic- Embed 2

Equal Pay Money Graphic- Embed 2

The Government requires all companies with more than 250 employees to publish figures on the average salaries paid to men and women within the organization.

As UK businesses scrambled to submit their gender pay gap figures to the government by midnight last night, three of the country's biggest auction houses have revealed the extent of the divide.

However, Rowlands reported that women's median hourly rate - which takes the mid-point when all hourly rates are lined up from biggest to smallest, reducing the impact of one-off outliers - was 3% higher than men's and the median bonus gap was 47% in favour of women.

Companies also have to publish the gender split of their employees in four broad pay bands, as a large gender pay gap is sometimes explained by fewer women at the top end of the pay scale.

Fund managers in Britain, who hold other firms to account over their corporate governance, have among the highest gender pay and bonus gaps themselves, new data showed.

Women also earn considerably less in the energy sector, with a gap of 19.3 per cent at SSE, 30.5 per cent at Scottish Power, and 36.1 per cent at Scottish Hydroelectric Transmission.

Food and ingredients giant Kerry Foods is one of the better performers, boasting a 0.3pc pay gap in favour of women, although women earned 7.7pc less than men when bonuses are included.

Among non-schools charities, PDSA had the highest median pay gap, followed by Marie Stopes International.

Ever since 1970's Equal Pay Act it has been against the law to give men and women different pay or conditions for identical work: if a man and a woman are hired at the same time, with the same experience, for the same role, they should get the same pay.

"Our data is based on the analysis of a balanced workforce with 541 women and 537 men working across a diverse range of skilled crafts and professional disciplines".

The Bill, as now drafted, provides that the Irish Human Rights and Equality Commission can put in place a scheme to require employers with 50 or more employees to regularly report on their gender pay gap. "The process has begun though, and we are talking to two specialist companies to discuss the scope and potential timings for pay banding".

The rest of the employers either have no median gender pay gap (8%) or one in favour of women (14%). KFC, McDonald's, and Starbucks reported zero pay gap.

In male-dominated sectors such as construction and oil and gas, pay gaps of up to 60 per cent remain, while finance sector companies including Royal Bank of Scotland, Clydesdale Bank, Lloyd's Bank Group, and Standard Life all had pay gaps over 30 per cent. The lowest is in hospitality, healthcare, arts, retail, where it is below 5%.

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The Government Equalities Office, which is overseeing the process along with the Equalities and Human Rights Commission, was unable to say how many companies had been expected to file.

And while 82.8pc of female employees received bonuses compared to just 27.8pc of men, their bonuses were worth an average of 20.6pc less than those of their male colleagues.

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