News

Gender Pay Gap 2025

Our gender pay gap for 2024/2025 has decreased from 33.2% to 30.8%. This is a continuing positive trend from 2023/24 where we saw the gap decrease from 36.6% to 33.2%.

The pay gap at more senior levels, in the upper quartile, shows that the average pay for women remains lower than that of men but the gap has continued to narrow over the last couple of years. This is still the largest gap at 16.1% (23.5% in 2023/24) and is consistent with findings from the Office for National Statistics (ONS) which reported in 2025 that gender pay disparities tend to be wider among higher-paid roles compared with lower-paid positions.

In 2024/25, bonus payments were focused on medium-term incentives and recognition for professional qualifications and referrals. In 2023/24 and 2022/23, bonus participation was high and broadly similar for men and women.

As an employee-owned business, all co-owners, including senior leadership, are included in our reported figures. Up to and including Associate Director level, the gender pay gap is balanced. However, the gap for both pay and bonus increases at Director level and above. A major factor in the extent of our pay and bonus gap continues to be the lower number of women in senior roles.

We continue to work towards our aim to increase the number of women at Director level to 50% and Senior Director level to 30%. Women are well represented across Director and Senior Director roles, and we are focused on nurturing talent and strengthening the pathway to senior leadership. Our talent pipeline continues to strengthen, with women representing 64% of co-owners below Director level in April 2025, rising to 69% in March 2026.

We are committed to ensuring that all co-owners have equitable opportunities for growth and progress. Progression is based on merit, performance, contribution, and business needs, and we remain focused on creating an environment where everyone can thrive.

Narrowing our gender pay gap remains a strategic priority. We are continuing to diversify leadership and deliver our Equity, Diversity and Inclusion (EDI) action plan to improve representation and progression across the business.

We continue to focus on actions to drive improvement and narrow our gender pay gaps. Some of these actions include:

• continuing to strengthen our pay transparency conversations 
• enhancing bonus conversations
• providing menopause support
• carrying out programmes to develop and support progression into leadership roles
• seeking ways to increase diversity across all levels

We continue to seek feedback from co-owners and regularly review our actions to ensure meaningful and measurable progress in narrowing both our pay and bonus gaps.

9 March 2026