At Funding Circle, we want our company to be as diverse as the small businesses and investors we serve, who are the heart of what we do.
This is what drives innovation and allows us to deliver a best in class customer and employee experience.
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 Report 2023
This report includes information relating to Funding Circle UK. The data uses the 5 April snapshot date each year in line with the government’s reporting requirements. The gender pay gap is the difference between men’s and women’s earnings expressed as a percentage of men’s earnings. The bonus pay gap is the difference between men’s and women’s bonuses over the year expressed as a percentage of men’s bonuses.
Gender Pay Gap - hourly pay
Gender Pay Gap - bonuses
Our initiatives to improve gender diversity have progressed since 2017. Our median gender pay gap has reduced to 26% from 36% over that period, with the mean also reducing from 24% to 17%. We have been focussing on increasing representation of women throughout Funding Circle, and specifically in our Technology teams and senior leadership positions (see below “HM Treasury Women in Finance Charter” for more detail).
In 2023, our bonus gender pay gap increased. This is mainly due to the introduction of a December bonus of up to £1,000 for junior Circlers which, due to the higher diversity at the more junior levels, had a larger negative impact on the average bonus for women than men. The proportion of men receiving a bonus increased from c.55% last year to c.92% this year, with c.46% of women receiving last year increasing to c.89% this year.
While the proportion of women in the upper quartile reduced by c.3% in 2023, our continued focus on progressing women throughout the business has meant that the proportion of women in the upper middle quartile has increased. At the same time the proportion of women in the lower and lower middle quartiles has reduced. Overall, the proportion of women in Funding Circle has slightly decreased from 42% to 39%.
Proportion of men and women in each pay quartile
All Gender Pay Gap reports
| Date | 03/04/2024 |
|---|---|
| Title | Gender Pay Gap report 2023 |
| Document | View |
| Date | 04/04/2023 |
| Title | Gender Pay Gap report 2022 |
| Document | View |
| Date | 01/12/2021 |
| Title | Gender Pay Gap report 2021 |
| Document | View |
| Date | 01/12/2020 |
| Title | Gender Pay Gap report 2020 |
| Document | View |
| Date | 02/12/2019 |
| Title | Gender Pay Gap report 2019 |
| Document | View |
| Date | 03/12/2018 |
| Title | Gender Pay Gap report 2018 |
| Document | View |
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.
We are pleased to report we have made good progress in 2023 towards our target of 40% of women in senior management positions.
In September 2020 our proportion of senior female representation was c.27%. As of September 2023 it was 35%, up from 34% in September 2022.
In the changing macroenvironment, we have had lower turnover over the last year, however, despite this we have continued to improve our female representation in senior leadership positions.
We continue to focus on developing and growing our internal female talent, especially in our technology team. We believe this commitment is key to driving long-term change across the industry given the historical under-representation of women in this area.
We therefore believe that we will meet or exceed our target by 2025.
