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October 7 2021

Revolut pays women nearly a third less than men

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Female employees of digital bank Revolut are being paid about 31% less than their male colleagues.

On the other hand, Monzo bank closed its gender pay gap to 4.3% in 2021, down from 14.3% the year before.

Read also: N26 fined 4.25 million euros for money laundering

Revolut recently held a company-wide meeting. However, the gender report was not directly addressed.

Chief executive Nik Storonsky was presenting at the meeting, prompting some employees to suggest leadership had “block[ed]” the report from the agenda, Sifted heard.

“There has been a lot of internal anger that the gender pay gap wasn’t on the agenda,” one insider said.

A spokesperson for Revolut told The Block: “While women are not paid less for the same job, these results reflect the higher concentration of men in upper pay bands in the UK. We want to increase the proportion of women in our leadership and upper management and to encourage and recruit more women into higher-paid roles.”

“We have a Women in a Leadership programme to help accelerate our female talent and we’re reviewing where and how to recruit to attract more women,” the rep continued.

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Revolut’s maiden gender pay gap report reveals that women do occupy 13.9% of the highest paid jobs and 45.5% of the lowest-paid jobs across the company.

Gender pay gap reporting in the U.K. has risen in 2017 and has highlighted the extent of gender pay disparity within the fintech sector.

Numerous initiatives, including Innovate Finance’s Women in Fintech program, have been rolled out to try to combat the situation.

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  2. WorkFusion Raises $45 Million in Funding to Fuel Growth for Agentic AI for Financial Crime Compliance

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  3. AI-Powered E-commerce, Stablecoins and Local APMs: Emerging Trends Headline EBANX’s Payments Summit in Mexico

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  4. Second Day of Money20/20 Middle East Unveils Next-Gen Solutions at the Region’s Largest Ever Fintech Gathering

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  5. United Gulf Financial Services Joins The Hashgraph Association and Exponential Science Foundation Adding $1M to Hedera Africa Hackathon Pool Prize

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