The gender pay gap at the UK’s biggest banks, asset managers, and insurers — from best to worst

The UK's Big Four high street banks all have gender pay gaps of more than 35%

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The UK’s Big Four high street banks all have gender pay gaps of more than 35%
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Reuters

LONDON – New figures show that men earn an almost 60% more than women on average at some of the UK’s top financial institutions.

UK companies with more than 250 employees have been forced to reveal their gender pay gaps under new rules introduced by the British government.

Business Insider rounded up all the data that has so far been published by the largest banks, insurers, and asset managers in the UK. It includes international firms like Goldman Sachs and JPMorgan, which have large operations in Britain.

It is, in theory, possible for firms to have a gender pay gap where women earn more than men on average but it is a rarity. Average pay at all firms on this list is higher for men than that for women.

Institutions are ranked in ascending order by the size of their mean pay gap between men and women, while median pay gaps are also included.

This list will be updated as more firms release their pay stats as the government’s April 5 deadline approaches.


Bank of America Merrill Lynch — 17.1%

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A man walks near a Bank of America branch in New York’s Times Square Decemeber 11, 2008.
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REUTERS/Brendan McDermid

Sector: Banking

Mean pay gap: 17.1%

Median pay gap: 20.8%


State Street Global Advisors — 18.1%

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Wikimedia Commons

Sector: Banking

Mean pay gap: 18.1%

Median pay gap: 11.8%


Legal & General — 21%

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Legal & General

Sector: Insurance

Mean pay gap: 21%

Median pay gap: 21.4%


Metro Bank — 22.4%

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Metro Bank

Sector: Banking

Mean pay gap: 22.4%

Median pay gap: 13.5%


London Stock Exchange — 22.4%

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Scott Barbour/Getty Images

Sector: Market infrastructure

Mean pay gap: 22.4%

Median pay gap: 8.9%


Lloyd’s of London — 27.7%

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Reuters/Eddie Keogh

Sector: Insurance/market infrastructure

Mean pay gap: 27.7%

Median pay gap: 32.1%


Aberdeen Asset Management — 28%

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Action Images / Andrew Boyers

Sector: Asset management

Mean pay gap: 28%

Median pay gap: 20%


Coutts — 28.2%

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Reuters

Sector: Banking

Mean pay gap: 28.2%

Median pay gap: 24.4%


Old Mutual — 29%

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Reuters

Sector: Asset management

Mean pay gap: 29%

Median pay gap: 31%


Standard Chartered — 30.4%

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REUTERS/Bobby Yip

Sector: Banking

Mean pay gap: 30.4%

Median pay gap: 31.4%


TSB — 31%

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Thomson Reuters

Sector: Banking

Mean pay gap: 31%

Median pay gap: 24%


Credit Agricole — 31.6%

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Reuters

Sector: Banking

Mean pay gap: 31.6%

Median pay gap: 35.4%


Virgin Money — 32.5%

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REUTERS/Phil Noble

Sector: Banking

Mean pay gap: 32.5%

Median pay gap: 38.4%


Credit Suisse — 33.3%

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REUTERS/Stefano Rellandini/File Photo

Sector: Banking

Mean pay gap: 33.3%

Median pay gap: 29.9%


Societe Generale — 33.5%

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Reuters/Benoit Tessier

Sector: Banking

Mean pay gap: 33.5%

Median pay gap: 17%


Royal Bank of Canada — 35%

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FILE PHOTO: A Royal Bank of Canada sign is seen outside of a branch in Ottawa
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Thomson Reuters

Sector: Banking

Mean pay gap: 35%

Median pay gap: 30%


Schroders —35.9%

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Schroders

Sector: Asset management

Mean pay gap: 35.9%

Median pay gap: 44.8%


Santander — 37.1%

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Thomson Reuters

Sector: Banking

Mean pay gap: 37.1%

Median pay gap: 29.1%


RBS — 37.2%

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Thomson Reuters

Sector: Banking

Mean pay gap: 37.2%

Median pay gap: 36.5%


Lloyds Bank — 37.6%

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Thomson Reuters

Sector: Banking

Mean pay gap: 37.6%

Median pay gap: 42.7%


Jupiter Asset Management — 38%

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NASA/JPL-Caltech/SwRI/MSSS/Kevin M. Gill

Sector: Asset management

Mean pay gap: 38%

Median pay gap: 25%


Unicredit — 41.3%

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FILE PHOTO: Unicredit bank logo is seen in the old city centre of Siena
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Thomson Reuters

Sector: Banking

Mean pay gap: 41.3%

Median pay gap: 51.9%


Barclays — 48%

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Thomson Reuters

Sector: Banking

Mean pay gap: 48%

Median pay gap: 43.5%


Nomura — 48.8%

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Flickr/MIKI Yoshihito

Sector: Banking

Mean pay gap: 48.8%

Median pay gap: 36.9%


Morgan Stanley — 50.4%

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Reuters

Sector: Banking

Mean pay gap: 50.4%

Median pay gap: 46.2%


JPMorgan — 54%

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REUTERS/Eduardo Munoz

Sector: Banking

Mean pay gap: 54%

Median pay gap: 54%


Goldman Sachs — 55.5%

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Chris Hondros/Getty Images

Sector: Banking

Mean pay gap: 55.5%

Median pay gap: 36.4%


HSBC — 59%

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Thomson Reuters

Sector: Banking

Mean pay gap: 59%

Median pay gap: 29%