Bosses at Leeds-based Yorkshire Bank have pledged to link improvements to gender diversity to executive remuneration after it published its gender pay gap for the first time.
CYBG, owner of Clydesdale Bank and Yorkshire Bank, today revealed that its gender pay gap sits at 37 per cent.
The figures provide a view of the overall mean and median gender pay and bonus gap and is based on figures for April 2017 and bonus paid in the previous 12 months.
CYBG said the gap in pay was largely driven by the higher number of men in senior roles, compared to their female counterparts. As of September, 37 per cent of employees in the top pay quartile were women.
However across the bank more widely, women represent the majority of the workforce and 63 per cent of the bank’s lowest pay quartile are female.
CYBG recently agreed that the minimum salary for full time employees will increase by 11 per cent to £17,000, something it said would address the issue.
Kate Guthrie, Group Human Resources Director, said: “The publication of our first ever Gender Pay Report is an important milestone in our drive to create stronger gender diversity across the business and have greater representation of women at senior levels across all parts of the Bank.
“We have introduced a target of 40 per cent females in senior management roles by 2020 and are now formally linking senior executives reward to the delivery of our inclusion targets.”