By Sahid Fawaz
The pay gap between men and women is at unconscionable levels at Barclays.
“On Wednesday, financial services firm Barclays released its 2017 annual report, which revealed that female employees of the company are paid roughly half, on average, of what male employees are paid.
The 326-page report indicates that female employees across Barclays’ international workforce earn 48 percent less than their male coworkers on average.
Bonuses were also significantly lower for women. Over 93 percent of both female and male Barclays International employees receive a bonus, but female employees received bonuses that were a staggering 78.7 percent lower than their male peers.
Barclays suggests that these findings are a result of fewer women in high-paying leadership roles. Across the 79,900 members of Barclays’ global workforce — of which 45,100 are male, 34,800 female — there are currently 401 senior management positions held by male employees, compared to just 154 held by female employees. As Bloomberg points out, Laura Padovani, interim chief compliance officer, is the only woman on Barclays’s nine-member executive team.
In releasing this data Barclays is complying with new regulations under the U.K. Equality Act, introduced on March 31, 2017, which require all companies with 250 or more employees in the U.K. to report statistics on how women and men are compensated. Bloomberg estimates that over 9,000 companies will be required to submit these figures by April 4th. So far less than 1,200 have done so.”
For the rest of the story, visit CNBC.