8.6 C
New York
Friday, October 22, 2021
Home Uncategorized Revolut pays women nearly a third less than men

Revolut pays women nearly a third less than men

Female employees of digital bank Revolut are being paid about 31% less than their male colleagues.

On the other hand, Monzo bank closed its gender pay gap to 4.3% in 2021, down from 14.3% the year before.

Read also: N26 fined 4.25 million euros for money laundering

Revolut recently held a company-wide meeting. However, the gender report was not directly addressed.

Chief executive Nik Storonsky was presenting at the meeting, prompting some employees to suggest leadership had “block[ed]” the report from the agenda, Sifted heard.

“There has been a lot of internal anger that the gender pay gap wasn’t on the agenda,” one insider said.

A spokesperson for Revolut told The Block: “While women are not paid less for the same job, these results reflect the higher concentration of men in upper pay bands in the UK. We want to increase the proportion of women in our leadership and upper management and to encourage and recruit more women into higher-paid roles.”

“We have a Women in a Leadership programme to help accelerate our female talent and we’re reviewing where and how to recruit to attract more women,” the rep continued.

Revolut’s maiden gender pay gap report reveals that women do occupy 13.9% of the highest paid jobs and 45.5% of the lowest-paid jobs across the company.

Gender pay gap reporting in the U.K. has risen in 2017 and has highlighted the extent of gender pay disparity within the fintech sector.

Numerous initiatives, including Innovate Finance’s Women in Fintech program, have been rolled out to try to combat the situation.

Avatar
Jan Cerny
Jan is an innovation enthusiast and Fintech news reporter. He specializes in news distribution, social media, and content analysis.

Recent posts

N26 has raised $900 million and is worth $9 billion

This way N26 became the second highest-valued bank in Germany, slightly ahead of Commerzbank.

Klarna is strengthening credit checks

Klarna, the “buy now, pay later” credit company, has unveiled important changes to its services in the UK.

Nik Storonsky has opened family office in London

According to Sifted, CEO of Revolut Nik Storonsky has decided to open a family office in London, UK. This...

Curve reported serious operating losses

Fintech Curve has reported an operating loss of £37.9 million in its annual results for 2020.