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 2021
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 - bonuses
Proportion of men and women in each pay quartile
Our initiatives to improve gender diversity are showing progress - our median Gender Pay Gap is down to +27.1% from +36.0% in 2017. The mean has reduced from 24.0% to 18.5%.
Our bonus gender pay gap has significantly improved, with the mean reducing from 60% in 2017 to 28% in 2021 and the median from 50% to 34%.
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 within our technology and capital markets teams. Improving this remains our core priority, and is a prevailing challenge for the financial services and technology industries. The Group Leadership Team to set goals for women in senior leadership roles. Our Technology team increased from c.12% women in senior leadership at the end of 2020 to c.25% as of July 2021.
Across the business we have increased representation of women in senior leadership from c.27% in April 2019 to just over 34% as of July 2021. The increase in women in senior leadership roles has meant that there is a more equal spread of women in the higher pay quartiles. The proportion of women in the top and 3rd pay quartiles have increased.
Gender Pay Gap - hourly pay
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 2022 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 2022 it was 34%, down slightly from 35% in September 2021. The main driver is the high growth of our technology team which has a lower proportion of women compared to other areas of the business.
We continue to focus on developing and growing our internal female technology talent. 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 and / or exceed our target by 2025.
