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Gender pay gap catalysing change for gender diversity amongst executives

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Born out of frustration after years of women in the city earning less than their male counterparts, the UK’s gender pay gap reporting regime has provided a sense of optimism amongst executives. Companies have been seriously concerned with the impact on their reputation. With the transparency of published figures, companies risk facing public backlash. With that in mind, many of the larger banks are beginning to pilot new schemes ranging from encouraging women to take on roles that are more male-dominated to attempting to remove gender bias from the recruitment system by anonymised certain information. Several other companies are aiming to pilot similar schemes focusing at the mid-career level for women and if those schemes prove successful to implement them on a larger scale.