Background

London & Country Mortgages Ltd (L&C) currently employs over 800 people at our three main offices in Bath, London and Newcastle. We’re publishing our gender pay gap report in accordance with the Equality Act 2010 (Gender Pay Gap Information) Regulations. An important thing to point out is that the gender pay gap is not the same as equal pay. Equal pay is the requirement that all men and women who carry out the same or similar jobs are paid the same. We are confident that men and women are paid equally for doing equal jobs across the organisation.

Our gender pay gap

The table below shows our mean and median pay and bonus gap on 5th April 2017.

This gap is higher than the national median gender pay gap of 18.4% 1. The underlying reason for this is that we, like most of our industry, have a higher proportion of men working within our business at all levels of pay – and in particular in higher paid senior, technical and sales roles. In contrast, most of our part time female employees work in administration.

1. Source: House of Commons Briefing Paper 7068

This trend is highlighted in the following charts, which show the proportion of men is significantly higher in the top three pay quartiles.

The proportion of men and women in each pay quartile

The proportion of men and women receiving a bonus payment

The chart above shows that 6% fewer women than men received a bonus in 2016/17.

The bonus gap shows an even bigger difference between men and women. The bonus gap is largely because bonuses form a big part of the salary package for sales roles, which are mostly held by men.

Closing the gap

We want to make sure everyone has an equal chance to fulfil their potential at L&C – whatever their gender. So we’re fully committed to building a more diverse and inclusive culture. To do this, we’ll be focusing on the following key areas:

1. Revising our recruitment policies and procedures to attract more women to the organisation, particularly in sales and senior management roles.
2. Reviewing our flexible working policy to help our employees to manage their work/life balance and meet their family commitments, whilst meeting the needs of our customers
3. Enhancing our training programmes to support our employees to develop their skills and progress within L&C.

By developing our polices across recruitment, retention, promotion and training, we’re actively working towards reducing our gender pay gap in the coming years

Phillip Cartwright, Managing Director

Note: We confirm that our data is accurate and has been calculated according to the requirements of The Equality Act 2010 (Gender Pay Gap Information) Regulations 2017.