The gender pay gap observed through the analysis undertaken in the UK reflects a higher proportion of men in the senior positions.
Close to half of all Euroclear staff in the UK are employed in IT-related functions, and men are over-represented in these functions in Euroclear as in the rest of the market. Compared to other functional domains, IT functions in Euroclear are on average at higher function levels, as a result of an evaluation performed by an external consultancy. Being at higher function levels, these functions are also associated with higher pay rates.
As a result, the gender pay gap in Euroclear in the UK is explained by a strong representation of IT functions in the overall workforce, as these functions are generally more highly remunerated and mainly occupied by men.