Auction House Christie’s has reported a 26.1% mean hourly pay gap for 2023, a decrease from 37.2% in 2022.
The organisation’s median hourly pay gap for this year stands at 22.3%, which is a drop from 26.3% the previous year.
Its lower pay quartile consists of 70% of women and 30% of men, whereas its top pay quartile is made up of 49% of women and 51% of men. For comparison, last year saw its lower pay quartile consisting of 73% of women and 27% of men, while its top pay quartile was made up of 48% of women and 52% of men.
Meanwhile, Christie’s mean bonus pay gap for 2023 stands at 64.3%, having narrowed from 74.9% in 2022, and its median bonus pay gap is 40%, just less than 42.1% the previous year. A total of 96% of men and 91% of women received bonus pay in 2023, compared to 92% and 91% in 2022.
According to the employer, it is combatting the pay gaps through its actions to address gender parity, which are an integral part of its broader programme of equity, diversity and inclusion strategic initiatives.
Andrew McEachern, global head of human resources at Christie’s, said: “Christie’s is committed to the long-term effort required to address the gender pay gap and continues to actively embrace ways to increase the number of women in senior, more highly paid roles. Our global executive team is personally committed to supporting ongoing actions and ensuring we are the diverse employer of choice in the art market.”
Guillaume Cerutti, chief executive officer at Christie’s, added: “Alongside the steps we are taking at an organisation level, we know that collective action is necessary to continue to drive meaningful change, and as such, have introduced a mandatory equity, diversity and inclusion objective for all employees.”