This report sets out our gender pay gap results in the year to April 5, 2017 which is in line with the reporting regulations under the Equality Act 2010.
The mean pay gap is the difference between average hourly earnings of men and women. The median pay gap is the difference between the midpoints in the ranges of hourly earnings of men and women.
The table above provides a snapshot, as at April 5, 2017, of our overall mean and median gender pay gap based on hourly rates of pay.
The negative percentage highlights that the mean gender pay gap is in favour of women (i.e. on average women earn more than men). Women make up a smaller proportion of the workforce but, mainly hold middle to higher management positions and/or are technical specialists. There are a variety of roles in the business with differing salaries, but comparable roles are paid equally regardless of gender.
The quartiles shown above represent the proportion of men and women in four, equally sized, groups, when ranked from lowest to highest paid. Each quartile contains c.70 employees and demonstrates there is a broadly consistent proportion of women in each quartile – except for quartile 2 which has a lower proportion of women.
The pay gap represents the mean gender pay gap between men and women in each of the four quartiles. The positive percentage shows men earning more than women whilst the negative gap shows women earning more than men.
The above analysis illustrates that while on average, pay is broadly equal in the first three quartiles, in quartile 4 women earn more. This is due to higher female representation at a senior level in the business.
Bonus Pay Gap
The Racing Post operates a general annual staff bonus scheme and certain individual bonus schemes. Those employed as interns are not eligible to participate in any bonus scheme. All interns are paid and have been included in the pay analysis.
During the year to April 5, 2017, 87% of staff received a bonus, with the remainder of staff not eligible either having left the business before or joined after the qualifying dates (October 1, 2016 to January 31, 2017).
The above charts show the men and women in receipt of a bonus. The proportion of men and women in receipt of a bonus is influenced only by the starters and leavers during the period.
The table above captures the mean and median difference between bonuses paid to men and women at the Racing Post in the year up to April 5, 2017 for 2016 performance.
The bonus gap shows that women received on average higher bonus payments than men. This is again due to their higher representation at a senior level and on individual bonus schemes, whereas a higher proportion of men are in the general staff scheme.