gender pay gap report 2023.pdf

Funding Circle UK Gender

Pay Gap report 2023

At Funding Circle, we want our company to be as diverse as the small businesses and investors we serve, and who are the heart of what we do. This is what drives innovation and allows us to deliver a best in class customer and employee experience.

Our initiatives to improve gender diversity have progressed since 2017. Our median gender pay gap has reduced to 26% from 36% over that period, with the mean also reducing from 24% to 17%. We have been focusing on increasing representation of women throughout Funding Circle, and specifically in our Technology teams and senior leadership positions.

In 2023, our bonus gender pay gap increased. This is mainly due to the introduction of a December bonus of up to £1,000 for junior Circlers which, due to the higher diversity at the more junior levels, had a larger negative impact on the average bonus for women than men. The proportion of men receiving a bonus increased from c.55% last year to c.92% this year, with c.46% of women receiving last year increasing to c.89% this year.

While the proportion of women in the upper quartile reduced by c.3% in 2023, our continued focus on progressing women throughout the business has meant that the proportion of women in the upper middle quartile has increased. At the same time the proportion of women in the lower and lower middle quartiles has reduced. Overall, the proportion of women in Funding Circle has slightly decreased from 42% to 39%.

Gender Pay Gap - hourly pay
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Gender Pay Gap

This report includes information relating to Funding Circle UK. The data uses the 5 April snapshot date each year in line with the government’s reporting requirements. The gender pay gap is the difference between men’s and women’s earnings expressed as a percentage of men’s earnings. The bonus pay gap is the difference between men’s and women’s bonuses over the year expressed as a percentage of men’s bonuses.
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Gender Pay Gap - bonuses

Proportion of men and women in each pay quartile
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