Background
The gender pay gap reporting legislation requires employers with 250 or more employees to publish statutory calculations each year to show the pay gap between their male and female employees.
Our pay gap report is based on the following:
- The April 2023 pay period.
- All relevant employees in line with the legislation
Overview of results since our 2022 report
- Increased women’s representation in the lower pay quartile by 8.4%
- Mean gender pay gap remained the same
- Increased the number of women receiving bonuses by 11.1%
- Decreased the mean gender bonus gap by 20%
Progress since 2022
We are proud of our progress in closing the gap on our mean gender bonus gap and the increase in women’s representation in both those receiving bonus and the top pay quartile (by 11.1% and 1.8% respectively). This was positively impacted by our external senior hiring and internal promotions but reduced by a senior executive moving out of the eligible reporting region.
The main contributory factor to our gender pay gap continues to be due to the majority of our senior executives sitting in our London office as demonstrated by our Top Quartile distribution as well as the UK being a primary location for our senior technical roles which are both areas where we are striving to have more female representation.
Plans for the year ahead
Since this report, in 2023 we have expanded our Executive Leadership Team (Exco) as part of an organisational restructure and increased female representation within this group from 14% to 26% reflecting our dedication to diversifying executive roles.
In our Client Servicing business, which is our largest group, 83% of senior leaders and 70% of our managers are female. This data highlights our successful focus on professional development pathways, as nearly all managers are promoted from within. Across all departments, women make up 50% of our manager population.
In 2023, we formalised an ESG function, led by two women. The development of this team demonstrates our ongoing commitment to creating an equitable and sustainable business. We are in year three of our Women@Third Bridge group and in year two, the mentorship group included 80 participants.
We are proud of our enhanced parental leave policies and our maternity leave offering remains in the top quartile in the UK. Our support for parents extends to our newly launched parenting employee resource group demonstrating our dedication to fostering a family-friendly workplace.
We have continued to expand our training initiatives and our updated “Breaking Bias” program now includes specific examples of gender inequality and microaggressions and is mandatory for all new hires with ongoing sessions for current employees to ensure that our workforce remains aware of and equipped to tackle gender-related issues.
This statement confirms that the published information is accurate at the time of publishing and is signed and authorised by Emmanuel Tahar.
