Background
In the UK, companies with 250 or more employees are required to publish statutory calculations each year to show the pay gap between their male and female employees. As a global organisation, we recognise that this only tells part of our story. While the data in this report relates to the UK, the initiatives and actions we take to close the gap are global.
This report is based on the following:
- The April 2024 pay period
- All relevant employees in line with the legislation
Gender pay gap is the difference in the average hourly wage of all male employees and female employees across a workforce, regardless of role. It is not the same as equal pay, which is where male employees and female employees are paid the same for performing the same or similar work. At Third Bridge, male employees and female employees with the same performance and experience in equivalent roles are paid equally.
Performance
We are pleased with the progress we have made since publishing our 2023 report. We have seen decreases in mean and median pay gaps for both hourly and bonus pay and an increase in average hourly pay and bonuses for all employees in London.
Hourly and bonus pay
Since our last report, our mean and median pay gap has decreased by 3% and 9%, respectively. Similarly, our mean and median bonus pay gap has decreased by 7% and 12%, respectively. As this gap narrows, we have increased hourly pay and bonus pay for male and female employees, meaning pay, on average, is both higher and more consistent across our UK employees. Bonus achievement remains consistently strong with over 90% of employees earning bonuses in 2023 and 2024.
Pay quartiles and representation
We strive to create an environment where our employees can develop their careers and see themselves as the future leaders of our business. Our pay quartile data highlights areas of the organisation where there is an imbalance in gender representation.
Since our last report, female representation has remained relatively stable across each pay quartile, excluding a decrease in female representation within the lowest paid quartile which we will continue to monitor. Females are underrepresented in our highest paid quartile and we acknowledge that the majority of our senior leadership team is male. We recognise that improving representation in these cohorts largely depends on our success in supporting the attraction and retention of junior female talent, in conjunction with creating development opportunities for emerging female leaders.
One of the largest and most influential leadership groups across the business are Client Service Managers. This group leads the majority of employees in their daily roles and helps to drive our company culture and long-term, strategic growth. At the time of publishing, 55% of Client Services Managers in our London office were female and 60% of global promotions to Client Services Managers in the reporting period were female, marking important progress.
Our progress and commitments
Third Bridge is committed to creating a fair and equitable workplace for all employees. We routinely monitor and report on our performance to identify and implement initiatives that address the gender pay gap and support our people throughout their careers.
Talent acquisition
As an equal opportunity employer, we base hiring decisions purely on a candidate’s skills and merit and we ensure hiring managers uphold this expectation by providing interview training and including female representation on the majority of interview panels.
In 2024, 55% of all hires were female, including a number of senior positions filled in our Technology team. In an area where women are typically significantly underrepresented, we are proud to have made significant progress in establishing STEM (Science, Technology, Engineering, and Mathematics) career opportunities for women at Third Bridge. This is supported by the fact that 45% of our total UK Technology leaders and 60% of the Technology leaders who have been hired in the last year are female.
Performance and promotions
All employees meet with their managers annually to discuss performance and goals. Our performance review structure ensures that everyone receives fair evaluation and is held to consistent standards. These discussions and reviews form the basis for promotion considerations.
In 2024, 50% of all global promotions were earned by female employees, which broadly aligns with the gender breakdown of our workforce.
Compensation
At Third Bridge, we ensure fair compensation for all employees based on their individual performance. We regularly review base salaries using credible market salary benchmarks as a guide to maintain market competitiveness and internal consistency, ensuring equal pay for equal work.
In 2024, we introduced a new incentive structure for a large group of employees within our client-facing teams. This increased the transparency of an employee’s contribution to Third Bridge’s business goals and enabled us to link compensation to performance more directly and objectively. As a result, we have seen greater equity in bonus payouts and higher payouts for both males and females. In our London office, 91.5% of women and 90.3% of men achieved bonuses in 2024 across all departments, and the average gender pay gap in bonuses decreased from 23% in 2023 to 16% in 2024. The median gender pay gap in bonuses decreased from 19% in 2023 to 7% in 2024.
Personal development
We recognise that building a diverse workforce means that each employee will have unique needs to drive their development. To support our people throughout their careers, we offer a number of opportunities for personalised, employee-driven development.
Mentorship program | The Women at Third Bridge Employee Resource Group (ERG) offers a mentorship program that connects members of the ERG who are early in their careers with more senior leaders to support their professional development.
This program is in its fourth year and in the most recent iteration, which launched in Q1 2025, 100% of those who signed up to be mentored are female, and 83% of mentors are female.
People Development Allowance (PDA) | Our PDA program encourages employees to drive their development by enrolling in courses and programs, joining networks, attaining certifications, and leveraging other external resources for their growth.
Slightly more female employees used their PDA (52%) than their male colleagues in 2024 and we believe there are opportunities to capitalise on this program to drive greater adoption.
Conclusion
We are committed to addressing the gender pay gap and creating a fair and equitable workplace for all employees. We will continue to monitor our progress with increased granularity, implement and reinforce initiatives that support our people throughout their careers, and report on our findings transparently.
This statement confirms that the published information is accurate at the time of publishing and is signed and authorised by Emmanuel Tahar.
