New Deloitte report reveals 31% gender pay gap at the firm
A report on the gender pay gap at Big Four accountancy firm Deloitte has revealed the persistent gender pay gap within the sector.
The report indicated that the gender pay gap among the firm’s 2,5000 employees has dropped from 10.1% in 2018 to 6.8% in 2021.
However, when partner pay is included in the analysis, the gap significantly widens to 31%.
By law, companies with more than 250 employees will have to publish details of the gender pay gap in their organisations, with the requirement expected to come into force later his year.
Professional service firms will not be obliged under the legislation to include partners in their gender pay gap calculations, as they are owners, not employees of the firm. Partners invest capital and their earnings are determined by reference to the capital they hold and the previous year’s profitability.
However, Deloitte has made the decision to publish its own statistics and plans for promoting gender equality.
The report indicates that the reason for the employee pay gap is because there are fewer women in senior positions and their tenure in those positions. Women make up 47% of the firm’s workforce. While 27% of the firm’s partners are women and 43.3% of its directors.
The gender bonus pay gap is calculated at 12.6%, a decrease from 23.6% in 2018, The Irish Times reports.
Deloitte calculates that taking all employee remuneration together with partner distribution of profits, the assumed gender pay gap rises sharply to 31.3% for the period to September 2021.
Harry Goddard, chief executive of Deloitte, said that the firm has made progress in addressing the gender pay gap, but still has more men “in our most senior, highest paying roles”.
He added that Deloitte was acting to increase the proportion of women in these roles, which it believed would reduce the gap in future.