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PwC reveals ethnicity pay gaps

Jan 29
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PwC has published its black, Asian and mixed ethnic pay gaps for the first time, in a bid to be more open about diversity within the professional services network.

For the past four years, the firm has voluntarily disclosed its overall ethnicity pay gap, but not gone into the specific details for each demographic.

This is in addition to the gender pay gap, which it has been making public annually for the past six years.

Laura Hinton, executive board member and chief people officer at PwC UK, said: “Being transparent with our diversity data is central to our goals of improving representation across our firm and nurturing an inclusive workplace culture for our people.

“I’m pleased we’re able to share a more detailed breakdown of our ethnicity pay gaps and we see this as an important driver of action and accountability as we focus on our efforts to reach true equality within the workplace.”

PwC’s median black pay gap is 8.3 per cent, while the median Asian pay gap stands at 2.7 per cent and the median for those from a mixed ethnic background is 2.2 per cent.

Meanwhile the median gender pay gap is 11.6 per cent, down from 14.7 per cent the year before.

Interpreting the disclosures, PwC explained the imbalances were a result of varying representation from these groups, as opposed to unequal pay for equal work.

It added that there are fewer female and ethnic minority employees in the positions with the highest pay grades.

While this is obviously a concern, PwC has revealed its data-driven action plan to tackle the subject of pay gaps.

It will include a scheme for female and ethnic minority staff with lots of potential to be offered career sponsorship, as well as the implementation of fair work allocation technology.

Senior staff will also be accountable for recognising partners that contribute positively to achieving diversity targets.

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