Savills has revealed its gender pay gap data, with the firm’s report providing more solid evidence of the disproportionate number of women in lower-paid roles in the property sector.
Across the agent’s UK businesses, there was a mean gender pay gap of 39%, down from 45% in 2017. When based purely on bonuses, this figure rose to 78.5%, a reduction from 82% in 2017.
Among those working for Savills, 82% of the top-quartile earners were male, up from 79% in 2017, while 76% of the lower-quartile were female, up from 63%.
Richard Rees, managing director of Savills UK, said: “Whilst we are pleased to report a reduced gender pay and bonus gap, it is clear that we still have work to do. The gap exists because a higher proportion of men occupy more senior positions than women – an imbalance caused by a legacy issue within our industry.
“Fully closing this gap is going to take time. But we are committed to achieving gender balance and have implemented a range of initiatives to help reduce the gap, working with colleagues from right across our business to ensure an open and transparent process.”
Savills said a key reason for the gender pay gap is the firm’s increasing number of part-time workers. Currently, 30% of its female workforce are part-time, compared with 8% of the male staff.
Its figures also show that 83% of women received a bonus in 2018, as opposed to 92% of men. The firm said the main reason for the difference was a higher number of women joining the business who were not eligible for a bonus during the qualifying period.
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