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Charles Stanley pledges 'decisive action' on 35% pay gap

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Charles Stanley pledges 'decisive action' on 35% pay gap

Charles Stanley has said its average female employee earns 34.8% less than the average men, as it reported its gender disparity data. 

Just 15.6% of the company’s top earning roles are held by women, who earned just a quarter of their male colleagues' total bonus pool 

Across a peer group of City majors and investment houses those figures compared to an average pay gap of 30.5% and a female bonus pool 41.4% that of men. 

Charles Stanley HR director Kate Griffiths-Lambeth said: 'We have a markedly higher proportion of men than women in senior roles.’

Chief executive Paul Abberley (pictured) added that 'the gender pay gap at Charles Stanley is not where we would like it to be. 

'We have already made progress but, as our gender pay gap shows, we still have a way to go. Diverse businesses make thriving businesses and we must challenge the status quo to make sure this is true of our company.'

The business has committed to hiring women to at least 40% of advertised roles. Over the last 12 months, it has exceeded this target.

This may have inadvertently distorted the company's pay distribution in the short term, with women making up an unusually high proportion of lowest-paid staff (63.2%).

The firm has signed the Women in Finance Charter, committing to appointing women to 30% of executive positions by 2020.

Abberley added: 'The reality is that the gender pay gap will continue to exist if we don’t take decisive action to address the under-representation of women in more senior roles. As CEO, I am proud of our company and I am confident we can make this change happen.'

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