Banking organisation Santander UK has reported a 13.4% mean ethnicity pay gap for 2023, up 4.3 percentage points from 2022’s figure.
The employer’s median ethnicity pay gap was 17.6%, up 9.6 percentage points from the previous year. Its mean ethnicity bonus gap was 35.6%, up 6.6 percentage points from 2022, and its median gap was 25.4%, down 0.4 percentage gaps from the previous year’s figure. A total of 86.9% of non-ethnic minority and 71.5% of ethnic minority employees received a bonus that year.
The bank’s 2023 mean gender pay gap was 27%, down 2.2 percentage points from 2022, while its median gender pay gap was 28.5%, down 2.8 percentage points from the previous year.
Its mean gender bonus gap for last year was 52.3%, down 1.1 percentage points from the previous year, while its median gap was 46.3%, down 2.4 percentage points from 2022. A total of 86.4% of female and 84.4% of male employees received a bonus that year.
According to Santander UK, its gender pay and bonus gaps have fallen as a result of an increase in the representation of women in senior roles and a decrease in the number of women in more junior roles.
Mike Regnier, chief executive officer at Santander UK, said: “At Santander, we want all our people to feel they belong, inclusive of gender, ethnicity, sexual orientation, disability, age, socio-economic background, religion, caring responsibilities, and gender identity/expression. Our people deal, what it means to work at Santander, promotes ‘the place to be yourself’, where everyone can unleash their potential and be supported in the moments that matter.
“I see the work of diversity, equity and inclusion (DEI) within the organisation as ongoing, and while there are clear signs that measurable progress is being made, there are also priority areas with more work to be done. We will continue to make improvements to our people policies and experience, where DEI remains front of mind.”