Gender pay gap 2024
We regularly review and benchmark salaries to ensure fair pay across our teams, while also checking for gender balance in both pay and bonuses during the salary review process.
Hourly gender pay gap 2024
In 2024, our mean hourly gender pay gap increased from 19.3% to 21.97%, while the median rose from 21.96% to 25.09%. Although this is a disappointing shift, it is largely due to much-needed investment in recruitment within our London office earlier in the year. To understand where the disparity lies, we have split this further into fee-earning and business services roles. In our business services roles, the median pay gap is 4.01%. In fee-earning roles, this is higher at 19.9%, although it has decreased on the previous year. Our mean pay gap for business services is 9.14% and for fee-earning roles is 21%. This has increased compared to last year and again is attributed to investment in recruitment.
Percentage of men and women in each hourly pay quarter 2024
Gender representation across pay quartiles remains largely consistent with last year. Encouragingly, we have seen a slight increase in the proportion of women across the top three quartiles. The percentage of men and women in each pay quartile largely reflects the overall gender make up of our people.
Lower quartile
Lower-mid quartile
Upper-mid quartile
Upper quartile
Bonus gender pay gap
In November 2023, all eligible employees received a flat-rate cost-of-living bonus, resulting in a median bonus gap of 0%.
The mean gender bonus gap rose from 36.86% last year to 46.04% this year. Our figures show 13% of female employees received a discretionary bonus compared to 23% of male employees, and on average, the male bonuses were a higher amount. We are actively working to address this disparity. We are committed to narrowing the gap in bonus amounts.
In terms of the proportion of men and women paid a bonus, 78.8% of women received a bonus compared to 73.04% of men.
