What is the Gender Pay Gap?
Mean Pay Gap – The mean gender pay gap refers to the difference between the average hourly rate for a man and the average hourly rate for a woman. This difference is then expressed as a percentage.
Median Pay Gap – The median pay gap is the difference between the middle point of men’s earnings and the middle point of women’s earnings. This is calculated by listing all male and female hourly rates from smallest to largest. The value in the middle is the median. The median gap is the percentage difference between the male median and the female median.
7.66%
Mean Gap
2.35%
Median Gap
Fedcap UK - Results
Mean Pay Gap
Mean Bonus Gap
Median Pay Gap
Median Bonus Gap
Proportion of employees in each pay quartile
Upper Hourly Pay Quarter
Upper Middle Hourly Pay
Lower Hourly Pay Quarter
Lower Middle Hourly Pay
Our Results
- We’re delighted to be able to report an improvement in our Mean Gender Pay Gap, from 11.9% in 2022,
to 7.66% on the 5th April 2023. - Our Median Gender Pay Gap has increased slightly from 0.0% to 2.35%, however this is still considerably lower than the UK average of 14.3% in April 2023 (House of Commons Library).
- The shift in Mean Gender Pay Gap is due to an increase in female representation at the more senior end of our business, with the upper hourly paid quartile (the highest paid quartile) being 57% female, up from 53% last year.
In Summary
- We’ve been able to make this shift through senior appointments in 2022/3 and via internal promotions. There is also now greater female representation in the upper middle hourly paid quartile, which has moved from 53% to 65%.
- We remain committed to being an employer of choice by embedding our Equity, Diversity, and Inclusion Strategy within all areas of the business, supporting colleague-led EDI networks, access to a robust EDI training plan and supporting gender parity within senior management
- Fedcap confirms that the published gender pay gap information is accurate and signed by Becky Craven, Director of People.
