On March 15, 2018, Reuters reports that HSBC had a gender pay gap of 59 percent at its main UK banking operation. Similarly, on March 18th, 2018, RBC reports that Goldman Sachs also reported a median UK gender pay gap at its international business of 36.4% for hourly pay and a median bonus gap of 67.7%. Its mean average pay gap for hourly pay was 55.5%, and 72.2% for bonuses. What factors account for this striking difference in the rate of pay of two groups?

Answer rating: 100% (QA)

The gender pay gap is the difference in average gross hourly earnings between women and men It is based on salaries paid directly to employees before income tax and social security contributions are d... View the full answer