Jessica Fino 10 Oct 2017 01:59pm

EY’s gender pay gap almost 20%

EY has published its gender and ethnicity pay gap in the UK, joining its Big Four rivals Deloitte and PwC

The accountancy firm revealed its mean gender pay gap stood at 19.7% this year, with a median of 14.8%.

The firm published the data ahead of the government’s regulatory April 2018 deadline, unveiling its pay gap is currently higher than its rivals, with PwC’s pay gap at 13.7% and Deloitte’s at 18.2%.

KPMG’s will announce its pay gap figures as part of its financial results in December.

EY’s mean ethnicity pay gap stood at 17.3%, but its median was only 9.8%. PwC earlier this year unveiled that its black, Asian and minority ethnic (BAME) pay gap stood at 12.8%.

EY explained that its median, based on the government’s methodology, had improved by 10 percentage points since 2012.

Despite efforts to improve diversity and inclusion, EY said its pay gap could be explained by the higher number of men at senior levels and fewer in less senior positions. There is also a larger proportion of women in EY’s more junior administrative jobs.

EY revealed it aimed to have at least 30% female and 10% black and minority ethnic (BME) represented in its new partner intake. Currently, those figures stand at 27% and 13% respectively.

Moreover, 40% of its UK board are women and 6% are BME. EY’s partnership in the UK is 20% female, and 9% BME.

The difference in bonus pay for women and men at EY stood at 43.5%, lower than Deloitte’s 50.9%.

The ethnicity bonus pay gap stood at 34.1% at EY, compared to 35.4% at PwC.

Steve Varley, EY’s UK managing partner, said, “We have made strong progress in the last five years to improve the representation of diverse talent, in all its forms, and we have an action plan in place to tackle this business critical issue.

“However, we know there is more work to do to speed up the process of achieving parity in the workplace and looking at this challenge through the lens of the pay gap figures has given us even greater resolve.”

Business minister Margot James said greater transparency had proven to be effective in bringing about cultural change and she urged other employers to also publish their pay gap reports.

The government announced last year that companies of over 250 people would be required to disclose details of the differences in pay and bonuses between male and female employees from April next year.

A league table will be established, ranking the firms by pay gap and employers will be required to publish details of the gap on their websites.