Savills UK has shared its 2023 gender and ethnicity pay gaps for its two entities, Savills (UK) Ltd and Savills Management Resources Ltd, based on data from April 2023.
The average gender pay difference per hour has been narrowed: from 23.94% in 2022 to 20.11% in 2023. The midpoint gender pay gap also decreased from 21.76% to 17.59% during the same period.
In the highest pay category, the percentage of female employees went up to 29% in 2023 from 27% in 2022. The average gender bonus pay gap in the UK also decreased to 68.08% in 2023, from 70.42% previously.
- Average gender hourly pay gap shrinks from 23.94% to 20.11%
- More ethnic minority employees in each pay level bracket
Every salary quartile saw a rise in employees from ethnic minority backgrounds, especially in entry-level positions. This is thanks to outreach to schools, partnerships, and a more diverse intake through the graduate and apprenticeship program. The result has been a slight yearly increase in the average hourly pay gap to 19.88% from 18.72% and a median pay gap increase from 19.39% to 22.07%. However, the average bonus pay gap based on ethnicity has fallen to 58.23% from 66.80% as efforts to promote employees to senior positions show results.
Savills continues to refine its employment schemes and support measures, earning recognition in various awards: second place in RateMyPlacement’s Best 100 Employers for 2024-2025 for undergraduate work experiences in the UK, EDI Programme of the Year at the Inspiring Women in Property Awards, a nomination for Excellent Ethnicity Network at the British Diversity Awards, and Chanelle Gray, Head of Diversity & Inclusion at Savills, securing the top award in her field at the British Diversity Awards.
Chanelle Gray, in charge of Diversity & Inclusion at Savills UK, comments on the unwavering efforts to bridge the pay gap based on gender and ethnicity, highlighting positive strides being made. Continued dedication from leadership and collaborative work groups are anticipated to drive lasting benefits at Savills and throughout the property sector.
James Sparrow, CEO at Savills UK & EMEA, emphasizes the diversity and inclusion aims of the company: to reflect the varied community they serve. The report’s insights guide their focus and goal-setting. While proud of the progress since first reporting on these matters, Sparrow affirms an ongoing dedication to shrink the pay gap and foster an environment that values diversity.
The comprehensive 2023 pay gap report is available for review here.
