Banking Industry and Sector

gap: That is second only to the banking industry, where women earn about 32% less than men on average, according to The Guardian. It is the only sector among the five worst performers which include banking, insurance, property and travel that failed to narrow the gap, according to the report by PwC and the industry's Diversity Project group. The average gender pay gap for the sector has increased by 0.8% to 31% since mandatory reporting was introduced in the UK two years ago. Helena Morrissey, the chair of the group and head of personal investing at Legal & General Investment Management, said the pay gap data was both depressing and galvanising . However, she said there was no use in trying to persuade colleagues. Instead, diversity and inclusion needs to be treated just like any other business issue, featured on every strategy day agenda, in every performance review, every hiring, promotion and reward decision, every risk and culture assessment. No amount of talk will convince this group in fact, it is likely to be counterproductive, Morrissey said. (news.financializer.com). As reported in the news.