Deloitte publishes 2018 statutory gender pay gap data and its total earnings gap has been saved
Deloitte publishes 2018 statutory gender pay gap data and its total earnings gap
10 September 2018
Deloitte has published its 2018 gender pay gap data under regulations introduced by the government last year. The legislation requires companies employing more than 250 people to publish information about their gender pay and bonus gaps annually. Deloitte first published its gender pay gap in 2015 on a voluntary basis and has reported it each year through its Impact Report.
Deloitte has gone further than the government requirements, also publishing its equity partner earnings gap and total earnings gap, the latter taking into account earnings for the whole firm (thus, including Equity Partners). Its mean total earnings gap has reduced to 41.1% (from 43.2%) and its median total earnings gap has reduced to 14.0% (from 15.2%).
For its statutory report, Deloitte’s mean pay gap is 18.1% (it was 18.2% in 2017) and the median pay gap is 16.1% (15.3% in 2017). The firm’s median bonus gap is 37.5% (39.1% in 2017) and its mean bonus gap is 52.3% (50.9% in 2017)*.
Over the past year the firm has continued to deliver on its gender balance action plan, agreed by its Executive Committee in late 2014. This has seen the firm focus on culture, including agile/flexible working and inclusion, as well as on a series of actions designed to address what the firm identified as potential ‘pain points’ from a gender perspective during people’s careers. These actions have included changes to recruitment processes; development, mentoring and sponsorship programmes; programmes for working parents returning from parental leave; and the establishment of internships for those returning from a career break.
Emma Codd, Managing Partner for Talent at Deloitte UK, said: “Comparing our results to last year gives us a mixed picture – with a slight decrease in the mean pay gap but an increase in the median pay gap. Our analysis shows that this is due to some of the actions we have taken to address the pay gap, such as encouraging more women into the business at entry level. We have seen a reduction in our total earnings gap, from both a median and mean perspective – with this voluntary disclosure including equity partner earnings.
“As with our last report, our gender pay and total earnings gaps are due to a lack of women in senior positions. This requires us to continue to take action not only to attract more women, including at entry level, but to ensure that we retain them and enable them to progress to our most senior positions in the firm.
“While women made up 43% of our overall workforce in April 2018, only 19% of our partners and 29% of our directors - the grades attracting the highest levels of remuneration - are female. An encouraging sign is that 42% of our autumn 2017 student intake were female, up from 38% in 2014. Actions we have been taking since 2014 have also resulted in an increase in engagement scores for our women, a decrease in female attrition at grades where we had previously seen a higher level than male counterparts, and a decrease in female attrition overall.
“As with anything that we are serious about, we have set targets against which we measure progress - in 2012 we stated that in 2020, 25% of our partners would be female, and we have since committed to 40% by 2030. We set these targets to accelerate the pace of change; today 19% of our partners are female, up from 13% in 2013. We recognise that we still have a long way to go to achieve gender balance but are starting to see our actions make a positive difference.”
Emma Codd concluded: “We continue to focus on ensuring there are no potential barriers to female progression. The focus on culture and targeted actions is already having a positive impact. However, as the data shows, meaningful and sustained change will take time and hard work.”
Note to editors
*Under the Regulations, Deloitte is required to report its gender pay gap data for each separate legal entity that has at least 250 employees and therefore the firm has reported data for Deloitte LLP and Deloitte MCS Ltd. Because Deloitte considers it important to consider the picture for all employees, it has also looked at the information required by the Regulations for the Deloitte UK firm (“Deloitte UK”) which combines those two entities together with other employees (e.g. those in the Channel Islands), who are managed by Deloitte UK but are not within the scope of the mandated disclosure.
In this press release references to “Deloitte” are references to one or more of Deloitte Touche Tohmatsu Limited (“DTTL”) a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity.
Please see deloitte.com/about for a detailed description of the legal structure of DTTL and its member firms.
Deloitte LLP is a subsidiary of Deloitte NWE LLP, which is a member firm of DTTL, and is among the UK's leading professional services firms.
The information contained in this press release is correct at the time of going to press.
For more information, please visit www.deloitte.co.uk.