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Women on average paid 24pc less than men at Bank of Ireland

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Bank of Ireland CEO Francesca McDonagh

Bank of Ireland CEO Francesca McDonagh

Bank of Ireland CEO Francesca McDonagh

Bank of Ireland pays women 24pc less than men on average - a gap that chief executive Francesca McDonagh pins principally to men’s over-representation in top posts.

Bank of Ireland today became the first domestic financial institution to publish its gender pay gap data. Banks in the UK have been required to do this since 2017.

Ms McDonagh - Bank of Ireland’s first female leader in its 237-year history - said the bank wanted to ensure that women win at least half of all appointments to senior posts by 2021.

“Bank of Ireland has a gender pay gap because we have fewer women in senior roles than men. I’m focused on taking action to close the gap as soon as we can,” she said.

The bank said 44pc of its vacancies for senior positions last year went to female candidates, up from 38pc in 2018.

Bank of Ireland’s data mirrors the wider financial services industry.

Last month the CSO reported that women employed at banks and other financial firms in Ireland are paid €25,000 less than male colleagues - €74,000 for men versus €49,000 for women.

It found that women dominate the lower pay scales, while the gap shifts decisively in men's favour once pay tops €60,000. Of the 1,100 people in top positions being paid more than €300,000, only 200 are women.

Online Editors