Mean gender pay gap in finance and insurance UK 2022

As of 2022, the mean gender pay gap in the activities auxiliary to financial services and insurance activities in the United Kingdom (UK) was approximately 24.9 percent. This meant that on average male employed in the financial service activities sector earned 24.9 percent more than a female employee.

Mean gender pay gap of full time employees in the financial and insurance sector in the United Kingdom (UK) in 2022, by subsector

Characteristic	Mean gender pay gap
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Release date

October 2022

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Region

United Kingdom

Survey time period

2022

Supplementary notes

Gender pay gap (GPG) - calculated as the difference between average hourly earnings (excluding overtime) of men and women as a proportion of average hourly earnings (excluding overtime) of men. For example, a 4% GPG denotes that women earn 4% less, on average, than men. Conversely, a -4% GPG denotes that women earn 4% more, on average, than men.

** Mean - a measure of the average which is derived by summing the values for a given sample, and then dividing the sum by the number of observations (i.e. jobs) in the sample. In earnings distributions, the mean can be disproportionately influenced by a relatively small number of high-paying jobs.

The source provides further information: "ASHE is based on a 1% sample of employee jobs taken from HM Revenue and Customs (HMRC) Pay As You Earn (PAYE) records. Information on earnings and hours is obtained from employers and treated confidentially. ASHE does not cover the self-employed nor does it cover employees not paid during the reference period."
*** Estimates are considered reasonable quality

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