2020 UK Gender Pay Gap Report

Since first reporting our U.K. gender pay gap data in 2018, we have made important progress on gender diversity.

Women represent approximately half of our global workforce and almost 40% of our firm’s Operating Committee. In the UK, the number of women in senior roles has increased to 25% since June 2018 and in 2020 women represented 29% of all hires. At a graduate level, women represent 52% of our latest intake and we anticipate that many of these talented junior individuals will rise through the firm to become its future leaders.

As thelatest report shows, our pay gap has narrowed once again, continuing the trend we have seen for the last three years. However, the pace of change is slower than we want it to be.

We remain committed to engaging and developing women at all levels, but we still have significantly more men than women in senior roles. To address this we continue to analyse the available data to understand and address the unique barriers women face in the workplace. And we are looking more closely than ever before at our existing talent and hiring processes, internal training, parental support offering and more.       

We have also committed to holding our most senior leaders accountable through our Executive Accountability Framework by linking their compensation with performance on key representation goals and inclusive behaviours.

Our ongoing focus on inclusion means that every hire, internal move, promotion and talent decision supports our business principles and transformation goals— as well as providing us with the strongest team and a thriving culture.

It takes time to do things the right way, and we are determined to continue our progress. It is vital to our sustainable success.

Viswas Raghavan, EMEA CEO

Gender Pay Gap Report – UK Overall*

Representation Quartiles Female Male Low Quartile 49.9% 50.1% Low to Median 39.0% 61.0% Median to High 30.5% 69.5% High Quartile 24.0% 76.0%   Median Mean Pay Gap 24.2% 32.2% Bonus Gap 38.5% 57.7%   Female Male Received Bonus 93.0% 94.6%

*UK overall figures include all UK legal entities, including those with fewer than 250 employees.

The following are some key findings on our overall UK figures:

• The mean hourly pay gap has narrowed from 34.1% to 32.2%
• The median hourly pay gap has narrowed from 25.3% to 24.2%
• Our mean bonus gap has narrowed 6.4% from prior year
• The percentage of women in all quartiles has increased from prior year, specifically by 1.7% in our top quartile to 24%

UK Women in Finance Charter: Our Pledge
 

At JPMorgan Chase, we strongly believe that a diverse and inclusive work environment is critical to our success — and it includes a commitment to gender diversity. Women represent 50% of our global workforce and 37% of our firm's Operating Committee. We know there is more work to be done to increase the number of women in senior positions. We are focused on supporting and developing women at all levels, and we expect our managers and leaders across the firm to help us drive progress. While we recognize that meaningful change will take time, we are committed to continuing our efforts to engage and empower women. To build on our commitment we are pleased to have signed the UK Women in Finance Charter and set a target to achieve 30% women in UK located roles at our top two levels (Managing Director and Executive Director) by June 2023. When we signed up to the Charter in June 2018 we had 24.4% female representation. As of June 2021 we have 25.9% female representation in senior management.