Deutsche Bank has today published data about the overall difference in pay for men and women working at the bank in the UK, for the first time.
Legislation requires all companies with 250 or more employees in the UK country to report their gender pay gap. This refers to the difference in average earnings between all women combined, and all men combined, considering the entire organisation.
The bank’s data shows that overall men earn more than women at Deutsche Bank in the UK according to a number of metrics. This can be attributed to three key factors:
First, the bank has fewer women than men in senior and business leadership positions in the UK.
Second, the bank has fewer women in the higher paid revenue-generating and technical roles.
Lastly, many parts of Deutsche Bank’s UK business recruit a large number of employees from science, technology, engineering and mathematics backgrounds. The available talent pool of candidates from these backgrounds has a majority of men.
The bank is committed to reducing its gender pay gap in the UK, and to increasing the number of women across roles and functions at a senior level. The bank has a number of initiatives under way, which are set out in the report, available here.