@Tara shares our 2019 update on our gender pay gap, which has unfortunately increased between this year and last year. You can see detailed numbers in the post, along with our plans to address it.
Good to see things are still improving, although not as much as you’d like, and there’s a desire to continue.
Are they improving?
Gender pay gap is pretty meaningless unfortunately. It doesn’t say anything about the difference in pay between men and women int he’s same job, that’s illegal already. It just shows the average difference between all men and women in an organisation. It basically is a useless statistic.
They tell you this in the first two paragraphs of the link.
In a couple of areas. Not the wholesale improvement they wanted but there’s still some.
I wouldn’t go that far, personally.
It’s a misused and misunderstood statistic, but it’s indicative of the difference in roles between the genders in a company. It’s by no means the be all and end all of how I would judge a company.
The important question it raises is, what does the company do next?
If a company chose, they could show the options available your younger people at the right age, but that won’t change what a lot of people want to do. And that’s about all they could actually do legally.
The other option which monzo and others are doing is to discriminate against men for certain positions. They say they don’t but their policy according to their own statements puts an unconscious bias against men when they go to hire people.
The reality is monzo aren’t really doing anything wrong, and they can’t do much to change it if there’s any need for change. Women go into high paying roles if they want to, same as men.
To be clear, when I said that the company can decide what to do, one possibility is ‘nothing.’
If there is an unacceptable gap, and the company has no way of changing it, then doing nothing is fine (by me).
One thing I won’t be doing, though, is getting into a discussion about whether or not Monzo, or anyone else, should be doing anything to help under represented groups into higher paid positions.
I’m not being unfriendly, it’s just that I’ve been in this sort of discussion before, and it’s not good for my mental equilibrium.
Glad that Monzo is aware of such issues and take that into consideration during hiring and career progression. I remember this gap actually increased during a huge wave of ongoing recruitment in 2017(?) in one of the diversity blog updates as well. In that highly contentious thread (now closed) one of the arguments against Monzo having this sort of commitment was that Monzo would pass over qualified men for less qualified women, but clearly this isn’t the case judging by the numbers.
It’s heartening to hear that Monzo is aware of this and seeks to further improve. Lots of women get stuck at basic roles in my industry as well in the UK. Since the gap is so much smaller in other countries in the same field, clearly it’s a sign that there are still improvements to be made!
To decrease our gender pay gap, we need to do two things:
1. Make sure Monzo is a place where talented people who identify as women can stay and progress
2. Attract senior, highly-skilled women to work at Monzo, and create an environment where they’re included and supported
Surely you should have been doing this in the first place? Considering how young Monzo are and everything you stand for, this for me is truly shocking especially if its increased in the last 12 months
Another reference to anti bias training
Didn’t someone on another thread promise to explain what exactly this training entails?
Where do non-binary individuals fit into this? Do you group them with men or women, or are they excluded from the statistics entirely? I’m assuming the legal requirement to publish this data also forces you to adhere to a strict format.
Edit: It seems like Acas and the Government Equalities Office advises employers to omit these people from their calculations. That’s disappointing http://www.acas.org.uk/media/pdf/9/p/Managing_gender_pay_reporting_07.02.19.pdf
Monzo has very little say in the quality and number of women in and who are applying in various fields. Not to mention they have to compete with every other company. And equal opportunity if other countries like Sweden are anything to go by doesn’t actually make much of a difference and might actually increase the difference as the men and women are given more equality of opportunity.
Personally, I would be interested in seeing an age/demographic breakdown of Monzo staff.
While I am sure it would be a “younger” profile than most firms - I wonder by just how much as some of Monzo’s recent decisions appear to suggest that they are inadvertently targeting a certain age group rather than trying to increase their appeal to a broader group of users - leading me to worry that too much groupthink is taking place