Our people are our business; they are what makes the business stronger every day. The exceptional experience we aim to deliver to our customers is the product of the smart, talented, hardworking and diverse group of Circlers we have working here. We recognise the power and value in building a diverse team, where people's skills and personalities complement each other and reflect the customers we are here to help. Different perspectives lead to better outcomes and we see the positive impact of this in our teams every day.
Funding Circle is proud of the inclusive culture it has built and is committed to being the best FinTech company to work for in the world.
Funding Circle UK Gender Pay Gap reporting
In 2017, the UK Government introduced a policy to support the progression of more women into senior roles in business and society. All organisations with more than 250 employees are required to report their 'Gender Pay Gap', which shows the percentage difference in mean and median hourly salary between all men and all women in an organisation, expressed as a percentage of men's earnings.
It is important to note that the Gender Pay Gap does not measure equal pay, which relates to what women and men are paid for the same or similar jobs or work of equal value. Women and men are paid equally at Funding Circle for performing the same roles.
Gender Pay Gap Update 2019:
- The gender pay gap has improved for the second consecutive year at Funding Circle.
- Our mean Gender Pay Gap is down to 19.5% from 24.0% in 2017, albeit with the median increasing slightly to 36% (+1%).
- The main driver of our gap is a lower proportion of women in senior and mid-level roles and in higher-paid teams. The biggest challenges lie, notably, within our technology and capital markets teams.
- In 2019, we have made progress in the middle paid quartiles, helping us to build a pipeline of talent for the future. We believe developing and growing internal talent is key to enabling long term change across the financial and technology industries.
- A small number of roles, around 30%, were eligible to participate in a bonus plan in 2019. The median bonus gap of +24.7% (v 25% 2018) and the mean bonus gap of +42.5% (v 38% 2018) is driven by a higher proportion of men being in teams with higher bonus opportunities, as well as a higher proportion of men within senior roles in bonus-earning teams.
Download our Gender Pay Gap Update 2018
HM Treasury Women in Finance Charter
Funding Circle UK is signed up to the government’s Women in Finance Charter, which is a commitment to support the progression of women into senior roles in the financial services sector.
- When we signed up to the Charter in 2018 we set ourselves a target of increasing the proportion of senior management who are women from 28% to 40% by the end of 2020.
- We launched a range of initiatives in the hiring, training and Employee Resource Group space to reach this target (detailed in our Gender Pay Gap reports above). This includes adopting family-friendly policies and benefits, playing an active role within the FinTech industry to support female representation, and continuing to support an inclusive culture where everyone can feel confident in bringing their whole selves to work.
- However, we do need to be realistic about the challenges that exist in both the Finance and Technology sectors with regards to gender diversity, which we have experienced first hand, particularly in the engineering and capital markets fields. This has made us even more determined to bring about long term change to our industry.
- In the past 18 months we have refocused our efforts and placed greater emphasis on the development and progression of female talent through the organisation, whilst also requiring a 50:50 split of candidates for most roles where we are hiring externally.
- As of October 2020 we are pleased to report overall female representation at Funding Circle is 40%, and our Global Leadership Team (GLT) is 38%. However, at senior management level we reported 24%. Whilst we have not met our 2020 target of 40%, we remain firmly committed to achieving this goal, and will be redoubling our efforts to achieve 40% female senior management representation by the end of 2025.
- Note: As of Jan 1 2021, we intend to widen our definition of ‘senior management’ to align with definitions used by other Charter signatory organisations. As of December 2020, using our new definition of senior management, we have 31.2% female representation in senior management.