General Electric reveals a median gender pay gap of nearly 15 per cent

Courtney Goldsmith
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A sign outside the corporate headquarter
GE has disclosed its UK gender pay gap (Source: Getty)

General Electric (GE) has revealed that men in its UK business earn nearly 15 per cent more than women.

The company, which employs more than 15,000 people in the UK, said its median gender pay gap stood at 14.9 per cent. The median gap identifies the wage of the middle earner and is the government's preferred measure.

GE's mean gender pay gap, which takes into account the low and high earners within an organisation, was 8.8 per cent.

The Office for National Statistics (ONS) in 2017 said the UK's median gender pay gap stood at 9.1 per cent, though GE cited the ONS' 2016 figure of 18.1 per cent which covered full and part-time work.

"We are confident that we offer equal pay between our male and female populations undertaking comparable work," a GE spokesperson said.

"That said, we recognize there is more to do, and we have already set ambitious targets to increase the number of women in GE’s STEM [science, technology, engineering and maths] based roles where our results reflect the UK-wide underrepresentation of women in these fields."

The company said it has set "good faith" goals of increasing the number of women in STEM roles at GE by 2020. A large majority of the company's employees are male, and the largest gap was found in the upper-middle pay quartile. Of those employees, 86 per cent were male and 14 per cent were female.

However, GE also revealed women earned an average of 12.4 per cent more than their male colleagues when it came to bonuses. Median female bonus earnings were 1.5 per cent higher than male bonus earnings.

Companies in the UK with more than 250 employees have until the beginning of April to publish details on their gender pay gap. Thousands of firms have yet to publish their pay gap figures and could face fines if they miss the deadline.

Read more: Action, not platitudes, will close finance’s gender pay gap

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