NielsenIQ Brandbank (legal entity: Brandbank Ltd), in line with UK government regulations relating to the gender pay gap reporting, today released the average hourly pay for women compared to the average pay for men.
Our results for Brandbank Ltd show that the median hourly rate for women is 22.9% less than the median hourly rate for men. The mean hourly rate for women is 23.9% less than the mean hourly rate for men. For bonus pay, the gap between the bonus paid to women compared to men is -13.7% for the median, and 44.1% for the mean.
The calculation rules are specific and reflect payment of salary but after deductions for pension, childcare vouchers, and other voluntary benefits such as holiday purchase and the cycle to work scheme. Individual choices that an employee makes can therefore impact the rate of pay reported.
The primary driver of our gender pay gap is that more of our regional and global senior roles based in the UK are held by men. This is something that we were aware of and actively working on with several ongoing initiatives.
We continue to be proud of our commitment to diversity and inclusion. The NielsenIQ UK business has continued to improve each year and through the work we have been doing over the last two years, we have a better understanding of what needs to be addressed and how we can make progress. Although this is the first year that Brandbank Ltd has met the gender pay gap reporting requirements we remain committed to making similar progress and ensuring diversity and inclusion remains a priority. We are confident in our ability to make even more improvement.
We confirm the data reported is accurate and is in accordance with the Equality Act 2010 (Gender Pay Gap Information) Regulations 2017, Brandbank Ltd are required to carry out Gender Pay Gap Reporting.
Brandbank Ltd is a legal entity in the U.K. and employs over 250 employees. Data reported excludes brands held under separate legal entities.