- The median and mean pay gap has narrowed by 0.5%
- AXA UK remains committed to improving diversity and inclusion and continues to introduce new initiatives to support this
AXA UK’s Gender Pay Gap Report shows a continued narrowing trend for the fourth year running for both median and mean pay gap and mean bonus gap.
Based on hourly rates on 5 April 2022, women at AXA UK earn just under 18.3% less than men in median terms, and around 21.2% less in mean (average) terms. This means, for the fourth year in a row, the pay gap is narrowing – this year by 0.5% in median terms.
Despite the trend continuing in the right direction, there remains a discrepancy in terms of pay. The primary underlying cause of this continues to be the disparity in the proportion of males and females at each level across the organisation. AXA UK employs more women in junior roles and more men in senior roles. Additionally, there are more men working in functions such as Actuarial and IT roles, and in locations such as London, which traditionally attract a higher wage.
AXA UK remains committed to improving diversity and inclusion and continues to make progress and introduce new initiatives to support this commitment. In 2022, AXA UK was recognised as a Times Top 50 Employer for Women for the second consecutive year. Presence in this list places AXA UK amongst the top UK companies leading the way in cultivating a strong, inclusive culture.
AXA UK has also been successfully accredited as a menopause-friendly workplace, one of the only insurers to receive this. This is as a direct result of the new menopause policy launch, the introduction of a support community, along with education opportunities.
Gap type | AXA UK's gender pay and bonus gaps | 2022 vs 2021 gaps | ||
---|---|---|---|---|
Median (mid-point) | Mean (average) | Median (min-point) | Mean (average) | |
Pay gap | 18.3% | 21.2% | -0.5% | -0.5% |
Bonus gap | 30.4% | 40.2% | 6.5% | -2.7% |
The annual Gender Pay Gap Report presents the analysis and progress achieved towards parity between men and women, but AXA UK supports all employees, including colleagues who identify as trans and non-binary.
It’s important to note that these statistics relate to the gender pay gap, which is a measure of the difference in average earnings between men and women, regardless of their role and seniority. The statistics do not relate to gender pay equity, which relates to men and women receiving equal pay for work of equal or comparable value.