Grant Thornton has a mean gender pay gap of 26.56% and a mean bonus gap of 51.78%, although the overall gender split of the firm is nearly equal with 51% men to 49% female.

At trainee entry level the gender split is broadly 50:50. The firm has a greater number of men at senior manager (64.5%), associate director (64.5%) and director level (75.9%).  There are also slightly more women than men in the firm’s first grade bracket (56%).  

Out of the firm’s 185 partners 30 are female (16%), this has risen slightly from 2016 where 27 out of 179 partners (15%) were female.

The firm says that when the data is adjusted to take in to account the number of men in senior roles its mean gender pay gap based on gross basic FTE pay was 1% as of October 2017, meaning the issue is not with equal pay as men and women in similar roles are being rewarded consistently.

Earlier this year, PwC figures showed it its mean gender pay gap was 13.7%, while the mean bonus gap is 37.5%. Deloitte’s equivalent pay gap was 18.2%, while the firm’s mean bonus gap is 50.9%.  EY’s bonus gap is 43.5%.

Stephanie Hasenbos-Case, leader of people and client experience at Grant Thornton, said:  ‘You only need to look at the gaps reported so far, both in our sector and beyond, to see that the system isn’t fit for purpose. We are confident that where people in our firm are doing the same or similar work, or work of equal value, they are equally rewarded.

‘Adjusted pay figures, including ours, are evidence that the underlying issue is not just about equal pay but gender imbalance at the more senior higher paid levels.  This also highlights the need to create a culture where everyone feels supported and empowered to make the choices that are right for them and take advantage of the opportunities offered to all.

‘The system and cultures in which our businesses operate were conceived to serve an old-fashioned working environment – one that is male-dominated, hierarchical and anachronistic. The world has changed, and continues to do so, but these ancient systems are so deeply embedded that they aren’t changing at the same pace as society.’

Grant Thornton has outlined initiatives and targets that it will introduce by 2020 to tackle gender imbalance. This includes addressing barriers to progression and support career progression for female senior managers and directors.

The firm has set targets to reduce the reported pay gap to 18-20%, increase the percentage of female partners from 16% to 22% by 2020 and 25% by 2022 and externally recruit 20% more female senior managers and directors.

Report by Amy Austin