Fintech where women earn MUCH bigger bonuses than men
If you want to work in the fintech industry, you’ll probably also want to make sure you’re treated fairly, regardless of gender. Recent figures submitted to the UK’s Gender Pay Gap Service show which fintechs pay women the best compared to men.
As the chart below shows, there are some big differences at fintechs with more than 250 employees who are required to submit pay gap numbers.
Smart women have huge bonuses
Payments unicorn Wise looks most generous to its female employees. The median average bonus for women at Wise was well over double the median average bonus for men in 2022. No other fintech showed a similar pattern. Women at Wise also earned higher bonuses than men last year, but the difference was only 45%.
This is not to say that Wise deserves nothing but praise. Average bonus pay is significantly lower, which suggests that a few top earners at Wise are pushing the figure higher. Similarly, at Wise, women occupy over half of the bottom quartile of earnings.
Zopa is the worst unicorn for equal pay
If Wise is the best, digibank Zopa is one of the worst fintechs for gender balanced pay. Comparative hourly wages for women at Zopa fell over the past year, and the number of women in the top quartile of earnings fell by 0.5 percentage points
Revolut also has a long way to go to match higher-performing fintechs in terms of equal pay. Only 11.5% of people in the highest paid quartile there are women. A Revolut spokesperson says there is “a lot more to do” to combat this and that they are implementing “several initiatives across Revolut are underway to ensure we close the gender pay gap”
The majority of these fintechs are based in London. However, Atom Bank’s head office is located in the north of Great Britain, while Stripe and Klarna have their head offices in Dublin and Stockholm respectively.
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