Every year companies with more than 250 staff across the UK are required to publish their gender pay gap figures.
The Creditfix Group is committed to being an Equal Pay employer. That means men and women performing equal work will receive equal pay.
Our Gender Pay Gap Report 2024 highlights how our male and female staff are paid.
What is the gender pay gap?
The gender pay gap refers to the difference in average earnings between men and women.
According to the Office of National Statistics the national gender pay gap has been declining slowly over time.
Figures show that over the last decade, the gap has decreased by around a quarter among full-time employees. In April 2024 it stood at 7%, down from 7.5% in 2023.
The gender pay gap in the UK financial sector, however, is much larger with women typically earning less than men.
In 2024 the gap in the financial and insurance sector was 29.8% – the highest in the UK.
At the Creditfix Group in 2024 the mean ordinary gap sat at 9.22%, bucking the trend for the financial industry.
It’s important to note, while there is a gender pay gap, this is partly due to the fact we currently employ 174 men and 139 women.
What does the Creditfix Group data show?
When analysing our gender pay gap male and female employees are split into quartile bands based on their ordinary pay.
Positively the gender pay gap decreased slightly from 10.8% in 2023 to 9.2% in 2024.
In areas where we have more male employees than female, such as the upper and upper middle quartiles which include advice, IT and development, there is a wider gap.
However, in departments such as customer service and arrears women typically earn more showing career progression.
It’s also important to note more women received bonuses in the Creditfix Group than men in 2024. Figures show that 91% of females received a bonus compared to 85% of males.
You can read our report in full here.
Looking to the future
The Creditfix Group is always evolving and any changes we see in our reporting can be attributed to business changes trialled throughout the year.
The Group is committed to investing in its teams and processes and will continue to do so in 2025.
