Woman smiling

Bank of America publishes its 2020 UK Gender Pay Gap Report

UK gender pay gap key points

  • For the purpose 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 2020, we have a median UK gender pay gap of 29.4% and a mean UK gender pay gap of 29.0% across our three UK legal entities.
  • The underlying reason for our gender pay gap is that there are more men than women in senior roles and in some functions that can carry a higher level of compensation, 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 economic empowerment of women around the world.

 

Read the full 2020 report here
Access the 20192018 and 2017 reports

Equal pay at Bank of America

The UK Gender Pay Gap report is not the same as equal pay, which is ensuring that that men and women in similar positions receive comparable pay.  Our company compensates our employees fairly and equitably based on performance, with equal pay for equal work. We maintain robust policies and practices reinforcing our commitment, including analyses from outside experts, with oversight from our Board and senior leaders.

The results of our 2020 enterprise review of equal pay for equal work showed that compensation received by women was on average more than 99% of that received by men.

For more information on how we are investing in women, please see the 2020 Human Capital Management Report and our Investing in women page.