HSBC reveals 59% gender pay gap between male and female employees

Banking giant HSBC has revealed details about its gender pay gap, citing a 29 per cent median pay gap for its UK operations.

The firm also reported a 59 per cent gap on the mean measure for hourly pay in 2017, while a median gap of 61 per cent for bonus payments between its male and female employees has also been revealed.

The bank said that it had fewer women in senior positions, while many top global roles were based in the UK where HSBC’s group head office is based. The company said the gap is due to a lack of women in senior roles, with just 23 per cent of higher positions held by women.

Elaine Arden, group head of human resources at HSBC, said: “If we identify any pay differences between men and women in similar roles, which cannot be explained by reasons such as performance/behaviour rating or experience, we make appropriate adjustments,” reports the BBC.

This is a staggering increase since PA Life last reported on the gender pay gap earlier this year, where pay differences were as high as 47 per cent between men and women.

HSBC has now since set a target to improve its gender balance, with the aim to have 30 per cent of senior positions held by women.