Bank of America Merrill Lynch publishes UK Gender Pay Gap Report

Bank of America Merrill Lynch has published its first UK gender pay gap report.

UK gender pay gap key points

  • In January 2018, Sheri Bronstein, global HR executive, announced that following a recent review of our total compensation for US and UK employees, results showed that across the company compensation received by women is equal to on average 99% of that received by men.
  • For the purposes of UK gender pay gap reporting, companies are required to disclose the mean (average) and median pay gap between women and men across an entire organization. The report does not focus on the compensation that women and men receive for performing the same or comparable roles.
  • The UK gender pay gap report shows that as of April 2017, we have a mean UK gender pay gap of 28.7% and a median UK gender pay gap of 30.5% across our three UK legal entities.
  • The underlying reason for our gender pay gap is that there are significantly more men than women in senior and revenue-generating roles, making the ‘average’ pay for men higher than the ‘average’ pay for women.
  • We continue to work hard to improve gender balance through our attraction, development and engagement programmes which focus on bringing female talent to our company, advancing women at all levels and supporting the economic empowerment of women around the world.

Read the full report here

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