Workforce diversity and gender pay gap data

Our mission is to build a diverse workforce and create an inclusive workplace at Legal & General. Being transparent about where we are and what we are focusing on is key to making progress.

Gender pay gap

In 2023, we saw a slight widening of our median gender pay gap, from 22.4% to 23.6%, the first such widening following a seven-year run of annual narrowing. There was a similar widening of our mean gender pay gap, to 21.3%. The hourly rate of pay for our median ranked male employee was £29 and £22 for our median-ranked female employee. The median bonus pay gap also widened by 3.6%. Please see our Social impact report for full data disclosure.

The reason for the widening is likely to be because of increased hiring of larger numbers of women into more junior roles in the firm. While this is a positive step in that it increases our overall female representation, as well as bringing in junior talent whom we can develop into more senior roles later in their career, it has the negative short-term effect of widening the pay gap. While we are disappointed to see the reversal in the narrowing of our pay gap, we believe that progress on this will not be linear and that year-over-year reverses are not necessarily a sign of stalled progress overall.

Gender pay gap data:

Gender pay gap

2023 mean

2023 median

2022 mean

2022 median

Hourly pay

21.3%

23.6%

20.9%

22.4%

Bonus

45.4%

41.2%

48.5%

37.6%

Workforce data:

Legal & General’s workforce

Female

Male

Junior Grades 1-4

53.6%

46.6%

Middle Management 5-6

38.7%

61.3%

Senior Management 7+

25.6%

74.4%

All management grades

37.2%

62.8%

Board members

41.7%

58.3%

Group Executive Committee*

33.3%

66.7%

All employees

46.5%

53.5%

* The Group Executive Committee existed under our old governance framework until 31 December 2023. The Group Management Committee replaced this committee under the new governance framework effective from 1 January 2024.