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Gender Pay Gap

Global Data

Gender Pay Gap refers to the difference in average pay between the male and female portion of the workforce, reflecting any difference in average seniority in roles throughout the organisation between men and women. Where there are more men at the senior level, the average male salary is higher than the average female salary and the average bonus will also be different.

The mean gender pay gap in Efficio is 24% and the median pay gap is 10%; this can largely be attributed to the high representation of men in senior positions. Our pay structures are linked to seniority and performance, meaning that bonuses have an equal impact on the pay gap as the base salary. Our internal pay analysis shows that we award bonuses to an equal proportion of women and men and pay the same level of bonus to men and women at the same grade. However, because bonuses increase with seniority, the mean bonus of female employees is 52% lower than that of their male colleagues, and the median difference is 47%. 

The proportion of Efficio employees in each quartile pay band:
 

Quartile Pay Band

Male

Female

Upper

62%

38%

Upper Middle

82%

18%

Lower Middle

82%

18%

Lower

80%

20%

Total

76%

24%


Activities and Plans

We are working both to support the promotion of our women to the most senior levels in the business, and attracting female employees across all levels. As a growing business hiring 10-15 people a month across all of our jurisdictions, we have the opportunity to change the gender composition of our workforce more quickly than a static business would, but we face challenges. We recruit talent with strong analytical and numerical skills; typically, these individuals have a STEM background and women are still a minority in this field. Given the underrepresentation of women in our field, we are pleased that 38% of our most senior employees are women but continue to strive for a 50/50 balance across the business.

We are involved with a range of activities aimed at encouraging female quantitative graduates to launch their careers at Efficio. We are proud to support organisations such as STEMettes, which inspires young females to pursue science and maths in their education. We are in touch with female student societies in London and meet up with their members to network and discuss their career plans. Internally, women at all levels are invited to participate in Efficio Women’s Network, providing our women with an opportunity to share their experiences, accelerate their learning and get the support of the community of female colleagues.

We will continue to engage with addressing the challenge of recruiting more women into our business and then enabling them to reach the most senior levels in the business. This is an ongoing commitment, actively supported by the Board.

Insight