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Gender pay gap at Tenet revealed
March 22 2018, 05:45 | Alonzo Simpson
PAY GAP Huge numbers of businesses pay women less than men
"The size of the bonus money disparity and the fact that two-thirds of the best-paid jobs are filled by men indicates that bonuses are piled higher to men at the top".
"The gender pay gap is different to equal pay, which is men and women being paid the same for the same work or work of equal value", the organization said in its report. The number of men in the highest-paying quartile within the organization is nearly double, at 66.2%, than women, at 33.8%, while those figures are reversed for men and women in the lowest-paying quartile.
All firms employing over 250 are people are required by law to publish their gender pay gap by April 4.
Barclays submitted gender pay gap info that shows female investment bankers get bonuses 78.7% smaller than their male colleagues on average.
"As one of the fastest growing businesses in the United Kingdom attracting and retaining talent is a key priority for us, and we are absolutely committed to ensuring our staff are paid fairly, irrespective of gender or any other aspect of diversity".
There has been improvement across financial services but progress has been slow within the industry, so we support the objectives and intent of the United Kingdom government in introducing gender pay gap reporting to drive equality in the workplace and in society more widely. At the same time, 98% of women received bonus pay, as did 97% of men.
The Lloyd's report was published in line with these reporting requirements, relating to United Kingdom employees of Lloyd's as of April 5, 2017.
The mean gender pay gap in Barclays International, which houses the bank's investment banking division, was 48 per cent, it said, meaning that the average hourly wage for a woman was just under half that of a man.
This imbalance of seniority is reflected in Tesco pay quartiles. Women's mean bonus pay is 19.4% lower and their median bonus is 25.2% lower.
Tesco said that its median gender pay gap is just 2.7%, if adjusted for these pay premiums. Of the FCA's top quartile of employees based on pay, 64% are men.
The bank said its median gender pay gap, reflecting the difference between the midpoints in the ranges of hourly pay of men and women, was 43.5 per cent. The 73% gap means that for every £100,000 of bonuses handed out to men working at Barclays International women were only getting £27,000.