Macmillan annual gender pay report demonstrates no pay gap
Macmillan Publishing International Limited has today published its annual pay report in line with government legislation, showing it does not have a gender pay gap in favour of men - in fact there is a very modest pay gap in favour of women.
The mean and median salaries of women, who make up 64% of the company, are higher than those of their male counterparts. The mean gender pay gap at MPIL, which comprises Pan Macmillan, Priddy Books and MDL is -2%, while the median pay gap is -34%, both in favour of women. The gender balance of the business’s executive team is roughly equal, comprised of 47% women and 53% men.
The proportion of men and women receiving a bonus payment is equal – 82% of women and men received a bonus. The report shows that there is a mean gender bonus gap of 57% in favour of men for the year, so on average men earn more in bonus payments than women. This year an exceptional one off bonus was paid in the distribution division where the majority of the team is made up of men. In addition to this, 53% of the leaders at MPIL are men. These aspects have inflated the mean bonus gap. However, the median bonus earnings for women are 515% higher than those of men.
Anthony Forbes Watson, Managing Director at Macmillan Publishers said:
“We are proud to demonstrate that we have no meaningful gender pay gap in either direction; that we do not have an overall gender pay gap is reflective of our commitment to equal pay for equal work. We know that the difference in our business is made by each and everyone of us who work at the company and we aim to provide a professional, open and nurturing environment where people have fun, feel motivated and get properly rewarded for what they do. We are working hard to be the diverse, inclusive community we aim to be and to provide everyone with equal opportunities. We are pleased too, to have achieved equal representation at Executive level.
“We know we have lots more work to do – which includes our commitment to increasing the diversity of our community in its widest sense - and we will continue to strive to lead the industry in this area.”
Rina Gulrajani, Head of Human Resources at Pan Macmillan, said:
“Our gender pay gap results illustrate that MPIL is broadly balanced, and we are confident that men and women are being paid equally for the same role. We are proud of our flexible family friendly policies, having recently introduced enhanced maternity and paternity policies and shared parental leave. We are committed to our inclusive culture, and value the diversity of our workforce. When it comes to pay we make remuneration decisions based on skill, experience and job-related criteria, including internal and external benchmarking, which we undertake annually. We constantly aim to improve our inclusive culture, continuing to monitor pay between men and women and taking a gender-balanced approach to development, progression and succession planning.”
For more information please contact
Chris Baker or James Douglas at Four Colman Getty:
[email protected] / [email protected]
020 3697 4252 / 07872 176 270 / 020 3697 4267
Read the MPIL Gender Pay Report 2018