Accountancy firm PwC has revealed its pay and bonus gaps for black, Asian and minority ethnic (BAME) employees as it aims to improve diversity within the firm.
As one of the first organisations to publicly report on difference in wages for BAME employees, PwC has found a 12.8 per cent pay gap and a 35.4 per cent bonus gap.
According to the firm's analysis, this is entirely driven by the fact that there are more non-BAME staff in higher-paid senior roles and more BAME staff in junior administrative roles.
“Our priority is to do all we can to retain our junior BAME talent and improve rates of progression to senior management levels,” said Kevin Ellis, chairman and senior partner at PwC.
“We’re aiming to achieve this through stronger accountability across our business to deliver our gender and ethnicity targets, monitoring our pipelines on a more regular basis and making sure that all of our people can benefit from the most stretching of client engagements.
“We are also talking to our BAME employees to understand their sense of working at PwC to see if there are any barriers we can address.”
Ellis stressed that BAME and non-BAME employees were being paid the same for doing equivalent jobs.
PwC was one of the first firms to voluntarily report on the gender pay gap, but Ellis believes this is not enough.
“We need to start looking beyond the narrow lens of gender, otherwise true workplace diversity won’t be achieved,” he said.
“While progress has been made, many barriers still exist in today’s businesses which means people aren’t able to reach their full potential. The more we understand what these barriers are and why they exist, the quicker we’ll be able to work towards creating truly inclusive organisations.”