Women working in UK financial services are earning nearly £30,000 less than men, with the hourly gender pay gap widening to 25%.
The findings are based on eFinancialCareers’ latest Compensation Report.
The annual report, based on a survey of more than 2,600 financial services professionals globally, revealed that the average base salary for men in UK financial services stands at $172,474 (£128,394), compared to $133,047 (£99,044) for women, representing an overall pay gap of nearly 30%.
When adjusted for working hours, the disparity is slightly less. Men work an average of 48.27 hours per week compared to 46.75 hours for women, translating into hourly earnings of £68.66 for men versus £54.78 for women.
The survey concludes that means men are now paid 25% more per hour (up from 21% in 2024) highlighting a widening gap in base salary despite relatively stable overall salary differences.
Beyond gender disparities, the report highlights a widening transatlantic pay gap. On average, finance professionals in the US and Canada earn around 20% more than those in the UK and Ireland.
Total compensation in North America reached $365,881 (£272,371), compared to $303,289 (£225,776) in the UK and Ireland.
At the senior end, however, compensation structures flip. UK managing directors earn significantly more than their US peers, approximately $1.4m (£1.042m) compared to $736,000 (£547,897), reflecting a more bonus-heavy, top-weighted pay structure in the UK.
Peter Healey, CEO of eFinancialCareers, said: “The figures highlight a clear and persistent gender pay gap in financial services, particularly in the UK, where men are earning significantly more than their female colleagues both overall and on an hourly basis.
“We know a major hurdle is lack of representation of females in senior positions. Our data shows that the disparity becomes more acute at senior levels. At the same time, total compensation across the sector has fallen slightly despite strong industry profits.”
He said the combination of declining salaries, uneven bonus growth, and widening disparities makes it more important than ever for firms to focus on fairness, transparency, and long-term retention strategies. “Ensuring that compensation reflects both performance and equality is not only essential for attracting and retaining talent, but also for building a sustainable and inclusive financial services industry."
• Findings based on more than than 2,600 respondents surveyed across continents, with the organisations represented spanning banks, hedge funds, asset managers, public equity firms, and professional services firms, among others.