The mean hourly pay difference between men and women has reached 54 per cent as the bank struggles to promote more women to top positions.
| The gap between what Goldman Sachs pays men and women in its UK workforce widened to its highest level in six years, underlining the difficulties the Wall Street giant has had in retaining and attracting top female talent.
The lack of women at Goldman’s highest levels has long been a sore point for the bank. No woman has ever been appointed to the role of chair, chief executive officer, president or CFO in the company’s history.CEO David Solomon has set a target for women to comprise at least 40 per cent of the bank’s vice presidents by 2025. Last year, 42 per cent of the firm’s experienced hires were women, including 40 per cent of managing director hires and 32 per cent of vice president hires.
The gender pay gap narrowed somewhat at the UK units of other US-based investment banks. At JP Morgan Securities, it fell to 47 per cent in 2023, compared with 49.3 per cent the previous year. At Morgan Stanley International, the figure slipped to 48 per cent from 48.8 per cent.
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