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.
UK companies with 250 or more employees are legally required to calculate and report their gender pay gap figures and this is the fifth year of mandatory reporting. Our data includes UK employees of McKinsey & Company, including Partners and Senior Partners.
The gender pay gap is the difference in the average hourly wage of all men and women across a workforce. It is not the same as unequal pay (paying men and women differently for performing the same work). Within our firm, men and women with the same performance and experience in equivalent roles are paid equally.
2021 figures
This year, our mean (average) hourly rate gap is 33.1%, which is lower than 2020 by 1.6%. Women representation has gone up slightly in most senior grades, and this has had a positive impact on the overall gender pay position by increasing average female pay – therefore reducing the mean pay gap. Analysis suggests that the decrease in the mean pay gap has been largely driven by new joiners, with senior and higher paid women joining the McKinsey UK office.
Proportion of employees who received bonus pay:
Male 96.8%
Female 95.4%
2021 pay quartiles
| Quartile | Male | Female |
| Upper | 74.0% | 26.0% |
| Upper middle | 58.2% | 41.8% |
| Lower middle | 46.7% | 53.3% |
| Lower | 33.6% | 66.4% |
Looking ahead
Although we are pleased to see the reduction in our mean pay gap, we know we have more work to do. Greater gender parity remains a top priority. Our research has consistently demonstrated the performance benefits of a diverse workforce. We know that being open to different perspectives helps us to better understand and support our clients, innovate, and manage risk.
A core part of our approach is parity in recruiting. We are committed to sourcing top female talent and achieving gender parity in our recruitment processes; more than half of our recruits into the UK office in 2021 were female.
As well as attracting new talented women to our firm, we remain fully committed to developing and retaining talented women through a number of targeted initiatives. These include innovative training programmes, monthly roundtable events for our women’s network, mentorship bubbles, and a focus on sponsorship. Our policies and programmes around flexible working and parental leave underpin our approach to enable every member of our diverse community of women to thrive.
I confirm the data reported is accurate.
Michael Edwards
(Director of People and Operations)
