Huge pay gap between women and men at Goldman Sachs

The bank employs 6,000 people in London, of whom 4,400 work in the investment bank’s international operations.

The difference in rewards based on gender is much higher, at 72.2 percent. Goldman Sachs states that the differences reflect the fact that there are more men than women in senior positions at the investment bank.

On the other hand, Goldman Sachs firms focusing their operations on Great Britain report gender-based pay differentials and bonus differentials of 16.1 percent and 32.5 percent, respectively.

The investment bank claims to be committed to promoting diversity and inclusion at all levels within the company. Goldman Sachs announced last Thursday that it aims for 50 percent of all new analysts to be women by 2021. The ultimate goal is for women to make up half of the workforce on a global basis.

The data release comes after thousands of major UK employers were ordered to publish pay figures by April, which marks almost 50 years since the UK introduced the Equal Pay Act.

Major bank HSBC released figures on Thursday showing the gender pay gap stood at 59 percent for its British operations.