The purpose of the report is to showcase how member firms are proactively addressing their gender pay gaps through the implementation and development of internal programmes and policies, as well as joining and supporting external initiatives. It is acknowledged that these actions will take time to change the headline figures, but our industry is committed to closing the gap and tackling its root causes, as part of a wider diversity and inclusion strategy.
The report seeks to understand the factors that may contribute to the gender pay gap and how this impacts the asset management industry specifically. The focus then turns to how the industry is addressing the issue through the proactive actions that our member firms are taking. The internal initiatives are centred around three areas: (1) attraction and recruitment; (2) retention; (3) and advancement. The importance of monitoring the impact and progress of these initiatives and targets is also stressed.
The report is based on the analysis of publicly available reports on the gender pay gap, insights from interviews with IA members, and an online survey of IA member firms. The results reflect the state of the industry as of 5 April 2018, and are based on responses from 39 member firms with 58% of the £7.7 trillion of IA members’ UK managed assets.