Pay gaps at Nationwide
We're building a culture where everyone is valued and rewarded fairly.
We’re committed to creating an inclusive place to work
One where everyone is valued, rewarded fairly, and supported to reach their full potential. It’s fundamental to Nationwide’s culture.
To check on our progress, we have a range of inclusion, diversity and wellbeing measures in place. Alongside these measures, we publish our gender and ethnicity pay gaps.
What are pay gaps?
Pay gaps are the difference in average hourly pay, when comparing different groups of people within an organisation. For example, the gender pay gap compares all women with all men.
Gender pay gap reporting was introduced in 2017 by the government
Companies with more than 250 employees must publish their gender pay gap statistics before 5 April every year. While we recognise that there are many gender identities, for government reporting we have to report on men and women.
There is no legal requirement to report ethnicity pay gaps. However, at Nationwide, we believe it’s important to report this figure. We are one of the few organisations to voluntarily publish our ethnicity pay gap and are lobbying for mandatory reporting across all firms. To calculate our ethnicity pay gap, we compare the average pay of people who declare themselves ethnically diverse (black, asian and minority ethnic) to those who declare themselves as white (non-ethnically diverse). We’re pleased that over 90% of colleagues chose to declare their ethnicity. This gives us a good understanding of our pay gap and helps us track our progress.
Our mean gender and ethnicity pay gaps
As of 5 April 2022 our mean gender pay gap is 30.0% and our mean ethnicity pay gap is 7.4%. Our mean gender pay gap has remained the same this year and our ethnicity pay gap has decreased. The difference in our ethnicity pay gap compared to last time we reported is because of changes in the proportion of colleagues in some roles.
This year, we have seen very little movement in our gender distribution across the Society, which is why our gender pay gap has stayed broadly the same.
We’ve increased the proportion of ethnically diverse colleagues and the biggest increase is in our manager and specialist roles, partially driven by our recruitment across technology roles
It’s positive that our ethnicity pay gap has decreased. However, we recognise that we need to do more to improve our gender pay gap.
You can read more about our pay gaps, and our commitment to inclusion and diversity, in our downloadable narrative and related links.