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

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%

Sector: Banking

Mean pay gap: 17.1%

Median pay gap: 20.8%


State Street Global Advisors — 18.1%

Wikimedia Commons

Sector: Banking

Mean pay gap: 18.1%

Median pay gap: 11.8%


Legal & General — 21%

Legal & General

Sector: Insurance

Mean pay gap: 21%

Median pay gap: 21.4%


Metro Bank — 22.4%

Metro Bank

Sector: Banking

Mean pay gap: 22.4%

Median pay gap: 13.5%


London Stock Exchange — 22.4%

Scott Barbour/Getty Images

Sector: Market infrastructure

Mean pay gap: 22.4%

Median pay gap: 8.9%


Lloyd’s of London — 27.7%

Sector: Insurance/market infrastructure

Mean pay gap: 27.7%

Median pay gap: 32.1%


Aberdeen Asset Management — 28%

Sector: Asset management

Mean pay gap: 28%

Median pay gap: 20%


Coutts — 28.2%

Sector: Banking

Mean pay gap: 28.2%

Median pay gap: 24.4%


Old Mutual — 29%

Sector: Asset management

Mean pay gap: 29%

Median pay gap: 31%


Standard Chartered — 30.4%

Sector: Banking

Mean pay gap: 30.4%

Median pay gap: 31.4%


TSB — 31%

Sector: Banking

Mean pay gap: 31%

Median pay gap: 24%


Credit Agricole — 31.6%

Sector: Banking

Mean pay gap: 31.6%

Median pay gap: 35.4%


Virgin Money — 32.5%

Sector: Banking

Mean pay gap: 32.5%

Median pay gap: 38.4%


Credit Suisse — 33.3%

Sector: Banking

Mean pay gap: 33.3%

Median pay gap: 29.9%


Societe Generale — 33.5%

Sector: Banking

Mean pay gap: 33.5%

Median pay gap: 17%


Royal Bank of Canada — 35%

Sector: Banking

Mean pay gap: 35%

Median pay gap: 30%


Schroders — 35.9%

Schroders

Sector: Asset management

Mean pay gap: 35.9%

Median pay gap: 44.8%


Santander — 37.1%

Sector: Banking

Mean pay gap: 37.1%

Median pay gap: 29.1%


RBS — 37.2%

Sector: Banking

Mean pay gap: 37.2%

Median pay gap: 36.5%


Lloyds Bank — 37.6%

Sector: Banking

Mean pay gap: 37.6%

Median pay gap: 42.7%


Jupiter Asset Management — 38%

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

Sector: Asset management

Mean pay gap: 38%

Median pay gap: 25%


Unicredit — 41.3%

Sector: Banking

Mean pay gap: 41.3%

Median pay gap: 51.9%


Barclays — 48%

Sector: Banking

Mean pay gap: 48%

Median pay gap: 43.5%


Nomura — 48.8%

Sector: Banking

Mean pay gap: 48.8%

Median pay gap: 36.9%


Morgan Stanley — 50.4%

Sector: Banking

Mean pay gap: 50.4%

Median pay gap: 46.2%


JPMorgan — 54%

Sector: Banking

Mean pay gap: 54%

Median pay gap: 54%


Goldman Sachs — 55.5%

Chris Hondros/Getty Images

Sector: Banking

Mean pay gap: 55.5%

Median pay gap: 36.4%


HSBC — 59%

Sector: Banking

Mean pay gap: 59%

Median pay gap: 29%

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