Euroclear UK gender pay gap report

Euroclear publishes information on its gender pay gap for 2019, in line with the regulation for gender pay gap reporting for UK companies.

Our gender pay gap in the UK

This report shows information for our legal entities in the UK: Euroclear UK & Ireland Limited and Euroclear SA/NV London Branch in 2019.

1. Gender pay and bonus gaps

Data based on hourly pay rates (salaries) and bonus payments paid to men and women in 2019.
 

Gender pay and bonus gaps

2. Proportion of Euroclear employees receiving a bonus


 



3. Proportion of Euroclear employees by pay quartiles


 

Proportion of Euroclear employees by pay quartiles



Equal pay for equivalent jobs

Euroclear's remuneration philosophy is based on the principle of equal pay for equivalent jobs. We have a series of controls ensuring that performance ratings, bonus and salary decisions are fairly and consistently applied during the annual compensation review process.

The data below shows that within specified functional levels (which represent seniority) men and women have a high degree of parity in salaries.

The index below is calculated based on the ratio of salary and remuneration data women/ men. An index of 1 means there is parity between men and women . If the index> 1 then the average salary for women is greater than the average salary for men and vice versa for an index < 1. 

Note: for levels 1 and 8, the sample size is not sufficiently representative to be able to draw reliable conclusions.

 

Index - average salary
Index - average remuneration

 

 

The gender pay gap at Euroclear in the UK

At Euroclear, we monitor our gender pay gap as part of our ongoing commitment to our Diversity & Inclusion and Wellbeing strategies. We continuously strive to understand and further improve any gender imbalance, by focusing on developing all our people and remaining an employer of choice for men and women regardless of background.

Our results show a slight narrowing of the mean average and a slight increase in the median pay gap, indicating that there has not been any significant change to our gender pay gap in the 12 months since our last submission. Our gender pay gap continues to be driven by composition of our workforce. We have higher proportion of men working in senior roles in the UK and also a high proportion of men working in IT functions, which make up a significant proportion of our UK workforce and generally enjoy higher remuneration.

We have however seen an increase in the number of women being appointed to senior roles and better representation of women in the higher pay quartiles. 

We are committed to improving the gender diversity in our senior roles and in areas like IT where women are traditionally under-represented as we believe that this will have a positive impact on the gender pay gap. When we are recruiting we press for a balanced slate from our recruitment partners and we are piloting the use of ‘blind’ CVs. Aware that societal pressures also contribute to the gender pay gap, we are committed to promoting our flexible working policies, creating opportunities for job share arrangements and part time working to support both genders to balance work and home life. 

As part of our wider diversity strategy, we are taking measures to embed diversity and inclusion in all our employee life cycle processes and are looking at ways to understand and address the impact of bias on the decisions made in recruitment, performance reviews, succession planning and promotions. We will also focus on promoting inclusive leadership, both within senior management and for all people managers. We are especially excited about our Leaders for the Future Programme which seeks to identify and prepare those individuals who will lead Euroclear tomorrow. It is an ambitious programme which aims to highlight the next generation of leaders, offering them intensive development, mentoring and opportunities for progression within the Group. 45% of current programme delegates are women with the ongoing aim to make this 50% in future years. This sits alongside local efforts to develop talented women at all levels of our business. 

We will be monitoring the impact of our various programmes carefully, making adjustments where needed in order to ensure that we continue to drive a meaningful shift towards gender pay parity.

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