Our global gender pay gap statistics – explained

Understanding the numbers

Analysis of pay levels for comparable roles across Schroders shows that male and female employees are paid fairly for similar work. But the lower representation of women at senior levels, and other higher-paid roles is reflected in our gender pay gaps. Promoting senior management diversity has improved these gaps, but there is still more to do.

Compared to pay outcomes when the Group first reported its global gender pay gap in 2016:

  • The gap for the median hourly fixed pay has narrowed from 33% to 26%, while the gap for the mean narrowed from 31% to 26%.
  • The gap for the median bonus has narrowed from 59% to 46% and the gap for the mean bonus has narrowed from 66% to 57%.

As our global gender pay gap data is on an ‘awarded’ basis, unlike the UK statutory disclosures, we see it as a fairer reflection of the progress we are making to close the gender pay gap.

Global gender pay gap data

The below table shows the global gender pay gap over time, calculated for each financial year since 2016. The calculations reflect hourly fixed pay based on annual rates of pay and working hours at the end of the relevant year and total bonuses awarded in respect of the relevant performance year (i.e. amounts communicated in Q1 following the end of the year).

    Schroders global firm-wide data
  2016 2017 2018 2019 2020
Females vs males (%):-          
– Top quartile of hourly pay 21 / 79 22 / 78 22 / 78 24 / 76 26 / 74
– 2nd quartile 36 / 64 38 / 62 39 / 61 38 / 62 38 / 62
– 3rd quartile 50 / 50 47 / 53 48 / 52 49 / 51 49 / 51
– Bottom quartile 59 / 41 59 / 41 59 / 41 55 / 45 55 / 45
Overall 41 / 59 41 / 59 42 / 58 42 / 58 42 / 58
Hourly pay – gap in medians 33% 31% 30% 27% 26%
Hourly pay – gap in means 31% 30% 29% 27% 26%
Bonus pay – gap in medians 59% 53% 56% 50% 46%
Bonus pay – gap in means 66% 62% 60% 58% 57%
% receiving a bonus F 95% / M 96% F 93% / M 95% F 93% / M 94% F 92% / M 91% F 93% / M 94%

Key  
imageqzchk.png Gap narrowed from the previous year
imagesihy.png Unchanged year-on-year
imageglqtg.png Gap widened from the previous year

Our UK gender pay gap statistics – explained

Understanding the numbers

In the UK, most of our workforce is employed by one of two main subsidiaries, Schroder Investment Management Limited and Schroder & Co. Limited. Schroder Investment Management Limited is the main UK employing entity for asset management and Group roles, and Schroder & Co. Limited is the main UK employing entity for our wealth management business.

The UK statutory disclosures for the bonus pay gap must be based on the amounts paid via payroll in the year to the end of April. As such, the bonus pay gap figures below reflect the sum of cash bonus paid in February 2020 and any exercises of vested deferred compensation awards during the year to the end of April 2020 (rather than using the total bonus awarded in respect of 2020 performance).

UK gender pay gap data

The below table shows our UK gender pay gap calculated according to the UK gender pay gap reporting regulations. The mean and median hourly pay here are based on what was paid in the April payroll each year, while bonus pay is based on the total variable pay that was paid through payroll in the 12 months ending on 30 April each year.

  SIM Limited Schroder & Co. Limited
  2017 2018 2019 2020 2017 2018 2019 2020
Females vs males (%):-                
– Top quartile of hourly pay 18 / 82 18 / 82 20 / 80 21 / 79 13 / 87 13 / 87 12 / 88 15 / 85
– 2nd quartile 32 / 68 31 / 69 32 / 68 32 / 68 20 / 80 19 / 81 25 / 75 20 / 80
– 3rd quartile 39 / 51 38 / 68 39 / 61 41 / 59 63 / 37 59 / 41 51 / 49 51 / 49
– Bottom quartile 53 / 47 52 / 48 54 / 46 54 / 46 53 / 47 57 / 43 53 / 47 54 / 46
Overall 35 / 65 35 / 65 36 / 64 37 / 63 37 / 63 37 / 63 35 / 65 35 / 65
Hourly pay – gap in medians 29% 27% 26% 25% 45% 46% 44% 42%
Hourly pay – gap in means 27% 27% 27% 26% 36% 37% 33% 31%
Bonus pay – gap in medians 60% 52% 52% 55% 79% 78% 78% 73%
Bonus pay – gap in means 75% 70% 71% 71% 61% 63% 48% 45%
% receiving a bonus F 91% / M 93% F 88% / M 92% F 90% / M 93% F 89% / M 89% F 81% / M 86% F 83% / M 90% F 94% / M 92% F 92% / M 94%

Key  
imageqzchk.png Gap narrowed from the previous year
imagesihy.png Unchanged year-on-year
imageglqtg.png Gap widened from the previous year

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