The UK Government Equalities Office has introduced legislation which, as of 4 April 2018, requires employers with 250 or more UK employees to publish certain information in respect of their gender pay gap. Pershing welcomes initiatives that encourage greater focus on pay transparency.
The gender pay gap is a measure of difference between the average earnings of men and women.
Gender Pay versus Equal Pay
Measuring a gender pay gap is not the same as measuring equal pay. Equal pay means being paid the same for the same / similar work. BNY Mellon conducts ongoing and consistent reviews of pay levels across all comparable roles in the business to ensure that men and women are paid equally for doing equivalent jobs with similar levels of experience and skill.
Addressing the Pay Gap
Diverse senior leadership requires diverse talent pipelines, from graduates through to the boardroom. Concerted efforts are being made to tackle the progression of female executives and ensure we not only attract more talented female professionals to our industry, but that they stay in our industry and maximise their career opportunities.