PwC ‘on track’ to meet targets for ethnicity and gender representation by pay grade 2025

PwC 'on track' to meet targets for ethnicity and gender representation by pay grade 2025

PwC is on track to meet targets for ethnicity and gender representation by grade by 2025, according to the firm’s full year Annual Report.

As part of the report, the Big Four firm published its sexual orientation pay gap data for the first time. The move follows the firm publishing socio-economic background and disability pay gaps last year.

It is PwC’s eighth year publishing its gender pay gap, and sixth year voluntarily publishing its ethnicity pay gaps. The firm is on track to reach its gender and ethnicity pay gap target by 2025, as increased senior level representation drives a narrowing of the differentials.

The firm has also published its socio-economic pay gap for the second year in a row. The pay gap analysis is based on parental occupation information shared by 82% of its people, of whom 16% come from a lower socio-economic background.

According to the report, the median gener pay gap, including partners stood at 10.3% in the 2022, compared to 10.1% in 2021.

The ethnicity pay gap including partners dropped to -%, from 0.3% in 2021. Median Black pay gap, including partners stood at 3.5% this year, from 3.3% in 2021.

The report also revealed that the median socio-economic background pay gap, including partners reached 17.5% this year, compared to 12.1% last year. While the disability pay gap, dropped slightly from 16.8% in 2021, to 16.7% in 2022. The sexual orientation pay gap stood at 20.4%.

Ian Elliott, chief people officer at PwC, said; “Diversity and inclusion is core to our business and purpose, so it’s only right that we expand on the data we collect and publish. Data driven insights allow us to be bold and intentional in taking action on the issues that matter most and have the biggest impact for our people, support our communities and benefit our clients.

“By supporting people to bring their whole selves to work, we know we can create a more inclusive environment. We ask all our people to put their trust in us through sharing their personal data, giving us the information we need to enact change.

“We know that as long as there is under-representation of minority groups at senior levels, pay gaps will continue to exist, so improving representation at senior levels is key. We remain focused on our action plan so that we can attract and progress all talent, and hope that the publication of our sexual orientation pay gap helps demonstrate our committment.”

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