Gender pay gap report

Read gender pay gap report

In accordance with UK legislation, Vanguard has calculated the below gender pay gap data to show the difference in average pay and bonuses between all men and women in our UK workforce.

Our data

At Vanguard in the UK, we have equal pay between men and women when comparing like roles (jobs of the same grade level with similar impact, scope, complexity and knowledge). We continue to have a pay gap that is driven by having more men in senior management positions. Vanguard has made substantial progress in increasing the representation of women in senior roles across the organisation, which has contributed to the continued progress in closing the pay gap.

Vanguard’s UK data (as of 5 April 2021)

  • Our mean gender pay gap is 10.2%
  • Our median gender pay gap is 12.3%
  • Our mean bonus gender pay gap is 26.3%
  • Our median bonus gender pay gap is 15.1%
  • The proportion of employees receiving a bonus is 93.3% for males and 90.2% for females

The quartile breakdown for pay is as follows:

Quartile Males Females
Lower Quartile 49.6% 50.4%
Lower Middle Quartile 60.3% 39.7%
Upper Middle Quartile 61.5% 38.5%
Upper Quartile 68.4% 31.6%

Progress, and our plans to accelerate diversity, equity, and inclusion

At Vanguard, we’re committed to embedding diversity, equity and inclusion (DEI) into our culture. We understand that the three components work together to enable our success, differentiate us from our competitors and help us attract diverse talent and prospective clients that reflect the markets in which we serve.

Last year, we continued to increase female and minority representation within leadership and more senior roles at Vanguard, and this continues to be a key priority going forward. We’re pleased with the many programmes and initiatives we have in place today to advance DEI, such as robust recruiting strategies to attract diverse talent for all roles, formal and informal learning opportunities, and crew resource groups such as the Women’s Initiative for Leadership Success, which focuses on gender mobility and aiding the career progression of women through training and mentoring. However, we recognise that there’s still more work to do both internally and externally to ensure all crew and the future talent of tomorrow have the resources to succeed and advance at Vanguard.

Vanguard’s chief diversity officer solely focuses on developing strategies to strengthen DEI and measuring our success. This role, in partnership with the Diversity Leadership Team, a dedicated team of senior leaders responsible for driving inclusion and engagement strategies throughout the enterprise, work together to drive our vision and increase diverse representation in our more senior positions.

Over the past year, we have continued to run DEI-related training for crew and leaders, adding a new workshop on the importance of an inclusive approach to hiring and diversity of hiring slates. We have also conducted a series of focus groups with women and analysed data from exit interviews, to help us understand the drivers of retention and turnover. One result of this work is a new development programme for mid-career women, launching in the summer of 2022. We are confident that the measures outlined above will continue to have success in increasing female representation in senior roles, which will further reduce the gender pay gap.

Measure 2020 Gap 2021 Gap Change in Gap 2020 - 2021
Lower Quartile 14.2% 10.2% Down 28.3%
Lower Middle Quartile 12.5% 12.3% Down 1.6%%
Upper Middle Quartile 39.3% 26.3% Down 33.1%
Upper Quartile 30.0% 15.1% Down 49.7%

I confirm that this data is accurate.

Sean Hagerty signature

Sean Hagerty
Sean Hagerty
Head of Europe