Gender pay gap
Government legislation requires that UK businesses with 250 employees or more publish information on the difference between average earnings for men and women within their organisation.
Moneypenny staff are paid equally for equivalent roles across the business, regardless of gender. PAs represent 75% of our workforce and are predominantly female, earning on average 9.5% more than male colleagues (men hold fewer management roles). Notable department exceptions are; Sales (84% female) 17.80% more than males, IT (67% males) 40.9% more than females, and Senior Management (60% females) 26.2% more than males. This results in an average pay gap as a mean average of 34.80%, 38.3% as a median average. If we disregard our IT team from the calculations, women earn on average slightly more than men, with the median gender pay gap being less than 2%.
Legislation also requires that we publish bonus figure variations. When presented as a percentage, the results could wrongly be perceived as women receiving vastly higher bonuses than men. Whilst 94% of men and 95% of women receive a degree of bonus incentive, Moneypenny Sales Department (86% female) form the majority of this figure. Females receive a mean average 8.6% more than men, but men receive a median average 22.10% more than females.
When dividing the staff into quartiles, 77% of the upper, 98% of the upper middle, 93% of the lower middle and 96% of the lower quartile are female.