Disclosures from major banks have revealed a significant gender pay gap between the salaries of men and women, according to Reuters.
Barclays Bank revealed that women in its international division are paid on average one half of what men earn, confirming how few females have reached senior roles in the bank. Royal Bank of Scotland Group announced that it pays women an average of 37% less than men, again as a result of a disparity in the number of men versus women in highly paid senior roles.
In 2017 the UK government announced that all companies with over 250 employees would be compelled to publish gender pay data by April 2018. The move is an attempt to drive greater equality in the sector.
Nikki Morgan, chair of the parliamentary Treasury Committee said the Barclays gap was ‘shocking’ and called on large companies to explain why they have large pay gaps.