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2019 UK Gender Pay Gap Report

Our Commitment to Diversity & Inclusion

At JPMorgan Chase, we believe that a diverse workforce and an inclusive work environment are critical to the success of our business, and that continues to include a commitment to gender diversity. Women now represent half of our firm’s Operating Committee and nearly 50% of our global workforce, and we are committed to supporting the advancement of women at all stages of their careers.

UK Gender Pay Gap Reporting

Under legislation that took effect in April 2017, companies in the United Kingdom (UK) with at least 250 employees are required to publish their gender pay gap every year.

While we remain committed to engaging and developing women at all levels, we still have more men than women in senior roles. Consequently, we have a “pay gap,” which reflects a difference in the average and median pay of women and men in the UK. This is different from “pay equity,” which focuses more on pay for men and women performing the same or comparable roles.

Gender Pay Gap Report – UK Overall*

 

Representation
Quartiles Female Male
Low Quartile 48.70% 51.30%
Low to Median 37.70% 62.30%
Median to High 29.90% 70.10%
High Quartile 22.30% 77.70%
  Median Mean
Pay Gap 25.30% 34.10%
Bonus Gap 37.50% 64.10%
  Female Male
Received Bonus 91.70% 93.20%

*UK Overall figures include all UK legal entities, including those with fewer than 250 employees.

The following are some observations on our overall UK figures:

  • We continue to see the greatest difference in gender representation in the top quartile, as a result of having more men than women in senior roles
  • The mean pay gap has narrowed, from 34.4 % to 34.1%
  • Our bonus gap has narrowed by 3.7% to 37.5% (median) and 2.6% to 64.1% (mean)

A disclosure is required for each J.P. Morgan legal entity with 250+ employees. This year, five UK legal entities are in scope for disclosure. Given the continued structural and headcount changes at legal entity level of the organisation, we believe that the UK overall figures are a more representative measure of our progress.

“Pay” represents monthly base salary as well as other regular payments that were paid through payroll in April 2019, divided by the employee’s contractual hours for April. “Bonus” includes incentive-related payments made during the 12 months preceding 5 April 2019. Generally, this will represent payments connected with the vesting of previously awarded deferred compensation and cash incentive compensation paid as part of the firm’s discretionary incentive plan. For more information on UK legal entities, please refer to our UK Gender Pay Gap Disclosure.

 

INVESTING IN THE ADVANCEMENT OF WOMEN IN EMEA

 

 AN OVERVIEW OF THE PROGRAMS IN PLACE TO HELP ATTRACT, DEVELOP AND RETAIN TOP TALENT

 

 

INVESTING IN THE ADVANCEMENT OF WOMEN IN EMEA

 

 AN OVERVIEW OF THE PROGRAMS IN PLACE TO HELP ATTRACT, DEVELOP AND RETAIN TOP TALENT

 

Attracting Top Talent

Attracting Top Talent








Careers & Skills Development

Careers & Skills Development









Empowering Engagement

 

Women on the Move is about women supporting women — empowering staff to take ownership of their careers and work together to overcome the unique barriers they face in the workplace.

 

The networks in EMEA encompassed by Women on the Move include:

 

Women on the Move - Interactive Network

 

Men as Allies

 

Connect Continuums

 

Business Aligned Networks





Supporting Working Families

Supporting Working Families










Employee Well Being

Employee Well Being



Disclosure by Legal Entity

Under the legislation that took effect in April 2017, companies in the UK with at least 250 employees are required to publish their overall gender pay gap between men and women.

The following information is available for each relevant legal entity:

  • The proportion of females and males in each quartile
  • The mean and median gender pay gap and bonus pay gap
  • The proportion of females and males receiving a bonus

To view the information by legal entity, select below:

  • J.P. Morgan Chase Bank, National Association
  • J.P. Morgan Securities plc
  • J.P. Morgan Europe Ltd
  • JPM Asset Management (UK) Ltd
  • J.P. Morgan Bank Luxembourg S.A. – London Branch

 

J.P. Morgan Chase Bank, National Association

 

Representation
Quartiles Female Male
Low Quartile 47.7% 52.30%
Low to Median 37.40% 62.60%
Median to High 29.20% 70.80%
High Quartile 23.90% 76.10%
  Median Mean
Pay Gap 21.90% 23.70%
Bonus Gap 33.30% 54.80%
  Female Male
Received Bonus 92.10% 93.20%

 

J.P. Morgan Securities plc

 

Representation
Quartiles Female Male
Low Quartile 55.6% 44.40%
Low to Median 34.7%
65.30%
Median to High 21.60% 78.40%
High Quartile 10.70% 89.30%
  Median Mean
Pay Gap 59.0% 54.90%
Bonus Gap 72.40% 66.60%
  Female Male
Received Bonus 89.30% 91.90%

J.P. Morgan Europe Ltd

 

Representation
Quartiles Female Male
Low Quartile 55.3% 44.70%
Low to Median 41.10% 58.90%
Median to High 36.40% 63.60%
High Quartile 23.9% 76.10%
  Median Mean
Pay Gap 24.5% 38.20%
Bonus Gap 45.0% 66.90%
  Female Male
Received Bonus 92.2% 95.10%

JPM Asset Management (UK) Ltd

 

Representation
Quartiles Female Male
Low Quartile 52.80% 47.20%
Low to Median 39.20% 60.80%
Median to High 28.50% 71.50%
High Quartile 24.60% 75.40%
  Median Mean
Pay Gap 23.90% 25.80%
Bonus Gap 60.0% 67.50%
  Female Male
Received Bonus 93.90% 95.80%

J.P. Morgan Bank Luxembourg S.A. – London Branch

 

Representation
Quartiles Female Male
Low Quartile 42.0% 58.0%
Low to Median 39.1% 60.90%
Median to High 30.5% 69.50%
High Quartile 33.1% 66.90%
  Median Mean
Pay Gap 7.70% 11.60%
Bonus Gap 10.80% 30.80%
  Female Male
Received Bonus 89.7% 90.7%




We confirm that the information included in this disclosure is accurate and meets the requirements of the Equality Act 2010 (Gender Pay Gap information) Regulations 2017.

 

Julia Meazzo Signature

Julia Meazzo
Head of Human Resources, Europe, Middle East and Africa