Deloitte’s gender pay gap shrinks as bonus gap widens
Deloitte has published its 2018 gender pay gap data which shows that while its earnings gap is shrinking, the firm’s bonus gap has increased
12 Sep 2018
Based on the calculations used for its statutory report, Deloitte’s mean pay gap is 18.1% (it was 18.2% in 2017) and the median pay gap is 16.1% (15.3% in 2017). The firm’s median bonus gap is 37.5% (39.1% in 2017) and its mean bonus gap is 52.3% (50.9% in 2017).
Deloitte has gone further than the government requirements, also publishing its equity partner earnings gap and total earnings gap, the latter considering earnings for the whole firm including equity partners. Its mean total earnings gap has reduced to 41.1% (from 43.2%) and its median total earnings gap has reduced to 14% (from 15.2%).
Emma Codd, managing partner for talent at Deloitte UK, said: ‘Comparing our results to last year gives us a mixed picture – with a slight decrease in the mean pay gap but an increase in the median pay gap.
‘Our analysis shows that this is due to some of the actions we have taken to address the pay gap, such as encouraging more women into the business at entry level.
‘We have seen a reduction in our total earnings gap, from both a median and mean perspective - with this voluntary disclosure including equity partner earnings.’
Deloitte says its gender pay and total earnings gaps are due to a lack of women in senior positions. While women made up 43% of the overall workforce in April 2018, only 19% of partners and 29% of directors are female.
Codd said: ‘An encouraging sign is that 42% of our autumn 2017 student intake were female, up from 38% in 2014. Actions we have been taking since 2014 have also resulted in an increase in engagement scores for our women, a decrease in female attrition at grades where we had previously seen a higher level than male counterparts, and a decrease in female attrition overall.’
In 2012 Deloitte set a target of achieving 25% of partners female by 2020 which has now been upgraded to 40% by 2030. Currently 19% of partners are female, up from 13% in 2013.
Codd said: ‘We continue to focus on ensuring there are no potential barriers to female progression. The focus on culture and targeted actions is already having a positive impact. However, as the data shows, meaningful and sustained change will take time and hard work.’
Report by Pat Sweet