The Financial Times has reported a mean gender pay gap of 16% for hourly pay as at April 2020.
The organisation, which currently has over 3,000 employees, reported its gender pay gap data in line with the government’s gender pay gap reporting regulations.
The reporting regulations require organisations with 250 or more employees to publish the differences in mean and median hourly rates of pay for male and female full-time employees, the gap in men and women’s mean and median bonus pay, the proportions of male and female employees awarded bonus pay, and the proportions of male and female full-time employees in the lower, lower-middle, upper-middle and upper quartile pay bands.
Due to the Covid-19 (Coronavirus) pandemic, gender pay gap reporting regulations have been suspended for the 2019/2020 reporting period, however, some organisations have chosen to do so voluntarily.
Financial Times’ median gender pay gap for fixed hourly pay is 15.9%, as at April 2020. On average, women earn 84p compared to every £1 their male counterparts earn.
Its median gender pay gap for bonuses paid during the reporting period is 18.8%; which is an increase on the 18.4% gap in 2019. The mean gender pay gap for bonus payments is 28.6%, compared to 20.7% the year before.
Over the reporting period, 85% of female employees and 86% of male employees received bonus payments.
Just over one-third (38%) of employees in the highest pay quartile at Financial Times are female, compared to 41% in the second quartile, 52% in the third quartile and 60% in the lowest pay quartile.
John Ridding, chief executive at Financial Times, said: “Financial Times is committed to creating a more diverse workforce and promoting inclusion as both an employer and a publisher.
“Gender equality is just one dimension of a more inclusive workplace. We have done considerable work in the past year to map our workforce demographics so that we can address different aspects of under-representation in ways that are measurable.”
“As a global organisation, we recognise the need to be transparent about pay in as many major markets as possible. We also plan to begin publishing a comprehensive annual diversity report in 2021 to map our performance across all grounds of diversity.”