Nationwide Building Society reports 28.3% mean gender and 16.2% ethnicity pay gaps

Nationwide Building Society reports 28.3% mean gender and 16.2% ethnicity pay gaps

Nationwide Building Society has reported a 28.3% mean gender pay gap among over 17,000 employees, as at April 2020. It has also voluntarily chosen to report its ethnicity pay gap data, finding a 16.2% mean difference.

Due to the Covid-19 (Coronavirus) pandemic, gender pay gap reporting regulations have been suspended for the 2019/2020 reporting period, however, Nationwide Building Society has chosen to voluntarily disclose these figures, as well as reporting its 2020/2021 figures.

Nationwide Building Society’s median gender pay gap for employees is 31.4%, as at April 2020, compared to 30% at April 2019.

Its median gender pay gap for bonuses paid during the reporting period in London is 37.4% compared to a 38% bonus payment gap the previous year. The mean gender pay gap for overall bonus payments is 44%, compared to 46% over the previous reporting period. Over the reporting period, 87% of female employees and 82% of male employees received bonus payments.

Just under two-fifths (39.4%) of employees in the highest pay quartile at Nationwide Building Society are female, 59.5% in the second quartile, 76.4% in the third quartile and 67.3% in the lowest pay quartile.

In addition, the building society’s median ethnicity pay gap is 14.9%. Furthermore, 82.9% of Black, Asian and minority ethnic (Bame) employees were paid bonuses, compared to 90.8% of non-Bame staff.

The proportion of ethnic minority employees in the organisation’s highest pay quartile as 7.6%, in the second quartile 10.2%, in the third quartile 15.2% and in the lowest quartile 13.1%.

A spokesperson at Nationwide Building Society said: “We are passionate about creating an inclusive place to work where everyone is valued, rewarded fairly and supported to reach their full potential.

“We are choosing to publish our ethnicity pay gap for the second time this year. Unlike gender pay gap reporting, our ethnicity pay gap is not a mandatory reporting requirement. The government is in consultation on how and when employers may be required to publish their ethnicity pay gaps. For now, we have calculated our ethnicity pay gap using the same rules that are in place for the gender pay gap.”