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HSBC reveals biggest gender pay gap among UK financial firms

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HSBC reveals biggest gender pay gap among UK financial firms

British banking group HSBC Holdings Plc revealed a mean hourly gender pay gap in unit HSBC Bank Plc of 59% and a mean bonus pay gap of 86% for 2017.

The gender pay gap is the biggest yet reported by a British financial firm, Reuters reported March 15, citing U.K. government data. HSBC said the gap was caused by having fewer women in senior roles, gender imbalance in junior posts and more female employees working part-time hours.

The median hourly and bonus pay gap for 2017 was at 29% and 61%, respectively. HSBC also published mean hourly and bonus pay gaps for 2018, which stood at 60% and 84%, respectively, as of Feb. 1.

HSBC was the last of major U.K. banks to report gender pay-gap details ahead of the April deadline.