43.5 per cent gender pay disparity at Barclays International shocks UK government’s treasury oversight body

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By Staff Reporter

Female employees earn up to 43.5 per cent less at Barclays than men, according to gender pay gap figures the bank has submitted to the United Kingdom government, the British Broadcasting Corporation reports.

According to the BBC report, Barclays chief executive Jes Staley said it had “more work to do” so women could progress in financial services.

However, Barclays said it paid men and women in the same roles equally.

The 43.5 per cent average gender pay gap, the BBC reports, reflects its investment bank division, Barclays International. For its UK retail bank, women earn 14.2 per cent less than men on average, while the figure is 29.9 per cent for the holding company, Barclay Services.

Nicky Morgan, chair of the Treasury Select Committee, described the pay disparity at Barclays International as shocking, adding: “Financial firms should be prepared to explain any gender pay gap that they may have.”

Staley further submitted that although female representation was growing at Barclays, there was still high proportion of women in more junior, lower paid roles and high proportions of men in senior, highly paid roles.

“There has been improvement across financial services but progress has been slow within the industry, so we support the objectives and intent of the UK government in introducing gender pay gap reporting to drive equality in both the workplace and society more widely,” said Staley.

Barclays is the first big bank to report its gender pay figures and chose to do so on the same day its annual results were released.

In January this year, the state-run BBC’s China editor, Carrie Gracie, resigned her position in Beijing in protest over what she called a failure to sufficiently address a gap in compensation between men and women at the public broadcaster.

This followed a forced 2017 publication of pay levels for the BBC’s top earners that showed two-third of those in the top bracket were men.

 

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