Banking organisation Barclays has reported a mean gender pay gap of 33.6% for 2023, down 2.3 percentage points from 2022.
Its median gender pay gap was 33.3%, down 4.4 percentage points from 2022. Its lower pay quartile comprised 66% females and 34% males, while its upper pay quartile was made up of 31% of females and 69% of males.
Its mean bonus gap was 66%, down 1.6 percentage points on the previous year, while its median bonus gap was 57.6%, down 3.8 percentage points from 2022. A total of 91.6% of female and 90.5% of male employees received a bonus that year.
Barclays’ mean ethnicity pay gap for Asian employees was -2.8%, down 3.3 percentage points from 2022, its gap for Black staff was 22.7%, up 3.1 percentage points, and the gap for multiracial workers was -6.9%, up 1.5 percentage points. Its median ethnicity pay gap for Asian employees was -8.8% in 2023, down 1.2 percentage points from 2022, the gap for Black staff was 19.1%, up 4.4 percentage points, and the gap for multi-racial workers was -0.1%, down 1.3 percentage points.
The organisation’s 2023 mean ethnicity bonus gap for Asian employees was -3.7%, down 1.2 percentage points, the gap for Black staff was 49.6%, down 3.2 percentage points, and the gap for multi-racial workers was -38.5%, up 11 percentage points. Its median ethnicity bonus gap for Asian employees was 10.3%, up 7.5 percentage points from 2022, the gap for Black staff was 50%, up 11.7 percentage points, and the gap for multi-racial workers was 12.5%, up 9.3 percentage points.
A total of 87.7% of Asian, 91% of multi-racial, 94.3% of white and 80.2% of Black employees received a bonus last year.
CS Venkatakrishnan, group chief executive at Barclays, said: “I continue to be encouraged by the progress we have made to make Barclays a more inclusive place to work since we first published our pay gaps in early 2018. In 2023, we improved our global inclusion index to 83%, up from 82% in 2022, and continued engagement with colleagues through our employee resource groups, webcasts, workshops and events. Notwithstanding the progress we have made, we recognise there is more to do to achieve our goals, I am fully committed to making sure we get there.”