The United Kingdom is one of the few nations with a legal mandate to report gender pay gap data. Despite this requirement, disparities in both gender pay and gender bonus gaps persist, also among the largest companies. This report analyzes the gender pay gap and bonus fap at the firms constituting FTSE 100, the most valuable companies listed on the London Stock Exchange.
According to the UK’s Office for National Statistics, the gender pay gap has been gradually decreasing. Over the past decade, it has declined by approximately 25% among full-time employees. In April 2024, it stood at 7.0%, down from 7.5% in 2023. This indicates that FTSE 100 firms have a pay gap above the UK benchmark. By uncovering key insights, this study aims to inspire actionable steps toward a more equitable and inclusive corporate landscape.
The gender pay gap in FTSE 100 companies
Our report finds that, on average, women earn £0.85 for every £1 earned by men. The gender pay gap remains prevalent across most companies, with men earning more than women in the majority of cases. The largest pay gap in favor of men reaches 52%, meaning women earn £0.48 for every £1 earned by men. In contrast, 8% of firms report a pay gap favoring women, with the largest gap reaching 23%.
The gender bonus gap: A wider disparity
The gender bonus gap is even more pronounced than the gender pay gap.
On average, women earn £0.68 for every £1 earned by men in bonuses. The gender bonus gap remains prevalent across most companies, with men earning more in bonuses than women in the majority of companies. The largest bonus gap in favor of men reaches 74%. In contrast, 7% of firms report a bonus gap favoring women, with the largest gap reaching 77%.
Women in leadership: Representation declines at higher levels
While the gender pay and bonus gaps highlight disparities in earnings between men and women without adjustment for specific roles, analyzing the representation of women across different organizational levels provides insights into the underlying factors contributing to these gaps. While women make up 40% of the workforce and 37% of middle management, their representation drops to just 10% at the CEO level.
It is 800% more likely to find a men CEO than a women CEO in FTSE 100 firms. This disparity highlights the structural barriers that women face in advancing to top executive roles. Greater representation at senior levels could help reduce the pay gap by increasing the presence of women in higher-paying roles.
Within top leadership, women are more represented in board positions than in executive roles across FTSE100 firms.
Firms with equal pay show the highest representation of women in top leadership roles, particularly in CEO and board chair positions. In contrast, companies with gender pay gap favoring men show similar percentage in executive and board roles but significantly fewer women in CEO and chair of the board.
Download the full report
These findings offer an overview of gender pay disparities among FTSE 100 firms. For a more detailed analysis, our full report provides deeper insights into company performance and gender pay gap trends.
Download the full report to explore the findings in greater depth.
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