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L&G, Jupiter Fund Management disclose gender pay gaps of over 30%

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L&G, Jupiter Fund Management disclose gender pay gaps of over 30%

Legal & General Group Plc and Jupiter Fund Management Plc revealed gender pay gaps of over 30% ahead of an April 5 deadline set by the British government for companies with more than 250 employees to disclose their pay gap figures.

L&G reported a 30.5% mean hourly pay gap and a 31.6% median hourly gap as of April 5, 2017. The mean bonus pay gap was 65.6%, while the median bonus pay gap stood at 51.8%.

L&G said its gap results from having more men than women in senior, more highly paid roles. The company had 3,701 female employees, compared to 3,928 male employees, it said in its 2017 annual report.

Meanwhile, Jupiter's mean hourly pay gap stood at 38%, while the median hourly pay gap reached 25%. CEO Maarten Slendebroek said the pay gap mainly reflected the "far too few female employees working at senior levels in our fund management and sales teams."

Jupiter, which had a workforce of 65% male and 35% female employees as of April 5, 2017, also disclosed a mean bonus pay gap of 84% and a median bonus pay gap of 52%.

Unlisted investment manager Baillie Gifford & Co also disclosed mean and median hourly pay gaps of 23.34% and 17.95%, respectively, and bonus pay gaps of 55.64% and 25.49%.