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Hermes Investment Management reveals gender pay gap of 30.2%

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Hermes Investment Management reveals gender pay gap of 30.2%

Hermes Investment Management Ltd. said it pays its female employees roughly 30% less on average than their male counterparts.

The U.K. fund manager reported a mean hourly pay gap of 30.2% and a median gap of 24.4%. The difference between the mean bonus paid to female and male employees amounted to 63.1%.

As of April 2017, Hermes employed 129 females and 223 males. The proportion of male and female employees that received bonus payments stood at 91.1% and 88.1%, respectively.

The British government has required companies with at least 250 employees to annually disclose their gender pay gaps. Hermes said that, to close its gender pay gap, it needs to increase senior female representation across the company, particularly in investment and business development.