Banking organisation Barclays has reported a 30.2% mean hourly gender pay gap for 2024, down 3.4% points from 2023.
The employer’s median hourly gender pay gap for 2024 was 29.7%, down 3.6% points from the previous year. Its upper pay quartile comprises 68% men and 32% women, while its lower pay quartile is 38% male and 62% female.
Its mean gender bonus gap was 63.4%, down 2.6% points from 2023, and its median was 56.8%, down 0.8% points from the previous year. A total of 96.5% of females and 96.4% of males received a bonus last year.
For its ethnicity pay gap data reporting, Barclays looked at figures for Asian, Black and multi-racial employees.
Its mean hourly ethnicity pay gap for Asian staff in 2024 was -2.3%, down 0.5% points from 2023, while its median ethnicity pay gap for Asian staff was -8.1%, down 0.7% points from the previous year. Its mean hourly ethnicity pay gap for Black staff was 26.7%, up 4% points from 2023, while its median ethnicity pay gap for Black staff was -8.1%, down 0.7% points from the previous year. Furthermore, its mean hourly ethnicity pay gap for multi-racial workers was -7.3%, up 0.4% points from 2023, while its median ethnicity pay gap for multi-racial employees was -3.3%, up 3.3% points from the year before.
Its mean ethnicity bonus gap for Asian employees was -2.9%, down 0.8% points from 2023, while its median ethnicity bonus gap for this group was 10.3%, unchanged from the year prior. Its mean ethnicity bonus gap for Black staff was 57.9%, up 8.3% points from 2023, while its median ethnicity bonus gap for Black employees was 56.2%, up 6.2% points from the previous year. Meanwhile, its mean hourly ethnicity bonus gap for multi-racial workers was -38.8%, up 0.3% points from 2023, while its median ethnicity bonus gap stood at 7.7%, down 4.8% points from the previous yearr.
CS Venkatakrishnane, group chief executive at Barclays, said: “In the UK, at the end of 2024, 33% of our managing directors and directors in Barclays were women. In addition, 5.2% of our UK staff were from under-represented ethnic backgrounds. I am encouraged by the progress we have made since we first published our pay gaps in early 2018 but recognise our journey to build an inclusive organisation continues, and that we must strive to ensure the progress we make is enduring. This report summarises the actions we are taking to improve gender and ethnic minority representation, and in doing so narrow these pay gaps.”
