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.
What are pay gaps?
They’re 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
The aim being to reduce the gap within a generation. To do this companies with more than 250 employees must publish their gender pay gap statistics before 5 April every year.
There is no legal requirement to report ethnicity pay gaps. The government is in consultation on how and when employers should publish this data.
However, we believe it’s important to report this figure. So, we apply the same rules as we do for presenting the gender pay gap.
This involves comparing the average pay of individuals who declared themselves ethnically diverse (black, Asian and minority ethnic) to those who declare themselves as white (non-ethnically diverse). The ethnicity pay gap doesn’t include individuals who have not declared their ethnicity.
The difference between a pay gap and equal pay
The gender pay gap measures the difference in the average pay between men and women, so it’s affected by the type of jobs that men and women are doing.
Women represent nearly two thirds (61.7%) of our workforce. However, we’ve more women than men in our lower grade roles and fewer women than men in our more senior roles. This is essentially what creates our gender pay gap.
Similarly, the ethnicity pay gap measures the difference in average hourly pay received by one ethnic group compared to another.
The ethnicity pay gap is more multi-dimensional than the gender pay gap. However, we can see that it is also affected by our workforce structure. We have a higher proportion of ethnically diverse employees in our lower paid roles than in our more senior roles.
Equal pay is about the pay of people who are doing the same or equivalent jobs. We’re confident we don’t have issues with equal pay and continue to test this with regular audits.
As of 5 April 2020 our mean gender pay gap is 28.3%
This figure is influenced by the number of men and women in different roles, including:
- those with a contract of employment
- temporary workers contracted to personally provide a service
- non-Executive Directors.
Please note, this is not a comparison of pay received by men and women doing the same job.
As of 5 April 2020 our mean ethnicity pay gap is 16.2%
This is calculated in the same way as we do our gender pay gap. The ethnicity pay gap is based on 90.6% of our workforce voluntarily providing their ethnicity. It includes:
- those who hold a contract of employment
- non-Executive Directors.
Temporary workers contracted to provide a service were not able to disclose their ethnicity at the time of the report. We hope to include them in the future.
The ethnicity pay gap is influenced by the number of ethnically diverse and non-ethnically diverse individuals in different roles. It is not a comparison of the pay received by ethnically diverse and non-ethnically diverse people doing the same job.