FSCS: Gender pay gap now at 1.5% in favour of women

The lifeboat fund is also working on reducing its ethnicity pay gap

Sahar Nazir
clock • 1 min read

The Financial Services Compensation Scheme (FSCS) has said it addressed its gender pay gap, with median pay now at 1.5% in favour of women, according to its 2022/23 annual report.

It said that 75% of its executive team are female, 67% of its board members are female and 50% of senior managers are female. The lifeboat fund has also said it is actively working on reducing its ethnicity pay gap, which closed by 8% this year. It increased the number of Black, Asian, minority ethnic managers to 17% from 10%; and more than a third of employees (38%) now come from Black, Asian, minority ethnic backgrounds. Elsewhere, the Treasury Committee is calling for evidence on the barriers faced by women working in financial services as it launched an inquiry into sexism in t...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Sector divided on Reeves' pullback on Cash ISA reform

Sector divided on Reeves' pullback on Cash ISA reform

‘A big win for defenders of a broken system’

Sorin Dojan
clock 11 July 2025 • 2 min read
FCA flags progress on internal DEI targets and urges action on Consumer Duty

FCA flags progress on internal DEI targets and urges action on Consumer Duty

According to the FCA report 2024-2025

Sahar Nazir
clock 11 July 2025 • 2 min read
FCA reviewing client categorisation rules to distinguish retail investors from the pack

FCA reviewing client categorisation rules to distinguish retail investors from the pack

Goal of 40 more initiatives to be completed by year end

Eve Maddock-Jones
clock 10 July 2025 • 2 min read