AXA UK publishes Gender Pay Gap Report 2017

Today AXA UK has published its Gender Pay Gap Report 2017 as part of its ongoing commitment towards gender parity and the principles of the Women in Finance Charter. The report reveals that the current median pay gap at AXA UK is 17 per cent.

1 February 2018

Posted in Inside AXA

by Rebecca D'Cunha (see media contact)

Today AXA UK has published its Gender Pay Gap Report 2017 as part of its ongoing commitment towards gender parity and the principles of the Women in Finance Charter. The report reveals that the current median pay gap at AXA UK is 17 per cent.

Although on par with the national average median pay gap (18.4 per cent), AXA is using the publication of the results as added incentive to bring gender equality to every level of the organisation.

The pay gap is not caused by unequal pay for men and women in the same levels and roles, but as a result of there being a greater proportion of men in more senior roles and in roles that attract higher salaries (60 per cent). Women make up a larger percentage of the lower to lower-mid quartile roles (65 per cent).

In terms of bonuses, 93 per cent of all men and 94 per cent of women, received a bonus payment last year.

  Median (mid-point) Mean (average)
Pay Gap 1 17% 27%
Bonus Gap 2 30% 50%

As part of AXA’s commitment to the Women in Finance charter, the company has put a number of measures in place to encourage women to secure more senior roles, with the aim of 40 per cent of senior management positions being held by women by 2020. To ensure this happens in a consistent, fair and sustainable way, AXA has established a pipeline of female talent with over 30 per cent of executive roles already occupied by women.

“At AXA, we’re absolutely committed to becoming a truly inclusive place to work, where everyone can reach their true potential. We believe that not only is this the right thing to do, but it is vital for the success of our business. While far from the full picture, gender pay gap reporting gives the impetus for businesses like AXA to take a cold, hard look at how well we’re doing in levelling the gender playing field. Signing the Women in Finance Charter in 2017 signalled our commitment and our employees can be assured that we will be restless in our pursuit of gender parity.” [Amanda Blanc, Group Chief Executive, AXA UK & Ireland]

To ensure that the 2020 objective can be achieved, AXA has implemented a number of initiatives to tackle unconscious bias and make flexible working available to all but also to encourage women to take greater control of their careers and be more confident in putting themselves forward.

These initiatives include:

 

  • Signing the Women in Finance Charter
  • AXA Parent Policy delivering more time and greater flexibility for new mothers
  • Launch of the ‘Yes She Can’ series of conferences 
  • The 30% Club for cross-sector mentoring of women 
  • Tailored Leadership Development Programme

 

To read the full report and find further information on how AXA is supporting Women in Finance across its UK entities, please visit our website.