UK Gender Pay Gap Report 2019

Please note: Figures on this page were amended on 4th April 2023 to reflect an update in our methodology for calculating our gender pay gap. You can find out more here.

In April 2017, the UK Government introduced gender pay gap (GPG) transparency regulations, which are designed to encourage large employers to take informed action to close their GPG where one exists. These regulations required almost 11,000 UK employers across the private, public and social sectors to report their GPG data.

Our firm is meritocratic, so men and women with the same performance and experience in equivalent roles are paid equally. But we do have a gender pay gap because we have a larger proportion of men in senior roles, and a larger proportion of women in support roles, such as EAs. This year, our mean (average) hourly rate gap is 31.1%, which is higher than 2018 by 4.1%. Our mean bonus gap is 71.3%. In compiling our figures, we have included all of our UK partners.

Proportion of employees who received bonus pay:

Male 89.8%

Female 85.5%

2019 Pay Quartiles

We continue to work hard to close our gender pay gap and recognise that we still have some way to go to meet our aspiration of having our firm’s composition mirror the global population.

As a talent-first organisation, McKinsey is committed to establishing an inclusive environment where all individuals can thrive. Our research has consistently demonstrated the performance benefits of a diverse workforce and that opportunity and fairness are significant predictors of employee satisfaction. We remain focused on our efforts to advance women and create a diverse workforce.

1. Parity in recruiting

We are committed to building a strong pipeline of female talent and are achieving gender parity in recruitment. We have several initiatives in place to help identify top women who may be a good fit for McKinsey. Thanks to proactive sourcing, outstanding “get-to-know-us” type of events, candidate mentorship, more stringent pipeline management, and inclusion training for all our interviews, we have increased the proportion of job offers we make to female candidates by six percentage points in the last two years. We hope that the parity we are achieving in our recruitment will lead to greater parity at senior levels over the next few years, as we promote more women.

2. Exciting, developing, and retaining talented women

Our global “All In” initiative reflects a deep, long-standing practice of bringing everyone’s voice to the table and creating an exceptional environment for the growth and advancement of women. We have introduced targeted programmes for future leaders like our Women's Leadership Workshop and our Pathway to Partner programme. Our flexibility and parental leave programmes, inclusive leadership and unconscious bias training, and our global initiative to ensure women are well sponsored, are just a few of the policies and practices that enable women at McKinsey to balance a full life with an exceptional career.

3. Continuing to shape the debate through rigorous research

We have produced extensive global research supporting gender diversity, examining the business case for diversity, how companies win, and the impact of the future of work. In 2020, we will publish Diversity Winners: How inclusion matters, building on Delivering through Diversity (January 2018), and Diversity Matters (February 2015). Our latest global research tracks the progress of companies in our original 2014 dataset. Across 12 countries and 5 continents, the data shows that diversity leaders are pulling ahead, and reaping the benefits. This growing body of research demonstrates a strong business case for diversity and inclusion and improves our understanding of the correlation between diversity, particularly at the executive level, and company financial performance. It sheds light on how companies can use diversity as an enabler of business impact and is unique in its guidance around the solution, which is informed by real-life, in-depth case studies.

I confirm the data reported is accurate.

Signature

Michael Edwards
(Director of People and Professional Development)