Goldman Sachs has a 56% gender pay gap in the UK — and 72% when bonuses are included

pulse

March 16, 2018 2:21 PM

Goldman said in a blog post that "the advancement of women in the workplace is top of mind for us" but conceded that "we have significant work to do."

Goldman Sachs published UK gender pay gap data on Friday.
Men get paid an average of 55% more than women at the firm, while the gap between average bonuses for men and women is 72%.
Goldman says: "We have significant work to do" and promises to promote more women to senior leadership roles.

LONDON — Goldman Sachs' UK gender pay gap is 55.5% in the UK, the investment bank announced on Friday.

The gap between what men and women are paid rises to 72.2% when bonuses are factored in.

Goldman said in a blog post that "the advancement of women in the workplace is top of mind for us" but conceded that "we have significant work to do."

"Our gender pay gap, a comparison of the average pay across all men at the firm compared with the average pay of all women at the firm, reflects our current reality that there are more men than women in senior positions in our organization," the bank said.

"We are a meritocracy, and gender is not a factor in the way that we pay our people. We pay women and men in the same way, using the same compensation criteria, including the nature of their role and their performance."

Goldman on Friday also announced that it has signed up to the UK Women in Finance Charter, which commits it to having at least 30% women in its senior leadership team by 2023.

The gender pay gap stats have been made public under new rules from the UK government forcing disclosure for any firm that employs more than 250 people in the UK. Goldman's two UK entities employ a combined 9,000 people in the UK.

Last month Barclays announced it had a pay gap of 48% between men and women, or 78% when bonuses are factored in. HSBC also published gender pay gap figures on Friday, revealing a 59% gap in pay and 61% gap for bonuses.

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