Black employees at Lloyds Bank are paid 20% less

Press   –   Source details   –   15 December 2020

Moloney Search recently spoke with HR Magazine regarding diversity in executive search and Lloyds Bank. 

Lloyds Bank has become the first major UK bank to disclose its ethnicity pay gap, revealing black employees are being paid nearly 20% less than their colleagues.

According to BBC News, the bank said the earnings gap was due to a lack of black employees in senior positions that come with larger salaries and bigger bonuses.

Figures released as part of the bank’s wider race action plan showed the median pay gap between black staff and their colleagues was 19.7%, while the bonus gap stood at 37.6%.

BAME staff account for 10.3% of all staff at Lloyds and 7.3% of senior management.

Lloyds reported its own BAME pay gap for the first time on 11 December, showing a 14.8% median difference. The bonus pay gap stood at 32.5%.

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