HSBC has 59% gender pay gap, biggest among British banks

British bank HSBC to disclose 59 per cent gender pay gap

British bank HSBC to disclose 59 per cent gender pay gap

HSBC (HSBA.L) will reveal a gender pay gap of 59 percent at its main United Kingdom banking operation, the biggest yet disclosed by a British bank, according to a copy of the lender's report on the subject seen by Reuters on Thursday ahead of its publication.

Women are paid a staggering 59% less than men, on average, according to the difference in hourly pay in 2017. In 2007, the gap was 23 percent.

Elaine Arden, HSBC's group head of human resources, said: "We are confident in our approach to pay and if we identify any pay differences between men and women in similar roles, which can not be explained by reasons such as performance/behaviour rating or experience, we make appropriate adjustments".

This challenges the assumption that the gender pay gap only starts when women have children.

The overall gap is roughly three times as big in western Germany, at 22 percent, as it is in the former Communist East, where it is 7 percent.

The figures are for HSBC Bank, the group's biggest United Kingdom entity, which employs more than 23,500 people.

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While the Government move is created to highlight the pay gulf between the sexes, it is different from equal pay which tackles the difference between men and women who carry out the same job.

HSBC said women held only 23 percent of senior leadership positions in its workforce in Britain, despite accounting for more than half of total staff.

Lloyds Banking Group (LLOY.L) and Royal Bank of Scotland (RBS.L) reported gender pay gaps of 32.8 percent and 37 percent respectively.

All firms with more than 250 staff must report their gender pay gap to the government by 4 April.

The disparity is wider than at Barclays, which said in February that women at its corporate and investment bank earned on average 48% less than male employees.

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