News ID: 211736
Published: 0825 GMT March 16, 2018

HSBC reveals big gender pay gap

HSBC reveals big gender pay gap

HSBC has reported a 29 percent median gender pay gap for its UK banking operations.

However, the company also reported a 59 percent gap on the mean measure for hourly pay for 2017, BBC reported.

HSBC has a median gap of 61 percent for bonus payments between its male and female employees.

The bank said it had fewer women in senior management roles, while many top global roles were based in the UK, where its group head office is based.

Elaine Arden, group head of human resources, said: "If we identify any pay differences between men and women in similar roles, which cannot be explained by reasons such as performance/behavior rating or experience, we make appropriate adjustments."

The 29 percent figure is more than double the 14.2 percent reported by Barclays for its UK retail banking operations for 2017, but lower than Royal Bank of Scotland (36.5 percent) and Lloyds Banking Group (32.8 percent).

HSBC said its pay gap was largely down to the fact it — like its rivals — has fewer women in senior roles, with just 23 percent of higher positions held by women.

Across the whole organization, however, 54 percent of its workforce is female.

HSBC has a target to try to improve its gender balance and aims to have 30 percent of senior roles held by women by 2020.

All firms with more than 250 staff must report their gender pay gap to the government by April 4.

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