U.K. Professional Firms May Be Understating Gender Pay Gap [Bloomberg Business News]
Barclays PLC (BCS)
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Source: Bloomberg Business News
U.K. politicians are demanding law and accounting firms revise figures on how male and female staff are remunerated amid criticism that their partnership structures let them understate the gender pay gap. British companies with more than 250 employees have until April 4 to provide authorities with data on how they pay staff. Among those to report so far, professional-services companies including Linklaters and EY have shown much narrower gender gaps than banks, like Barclays Plc. But that’s partly because those firms class their top-earning partners as owners rather than employees, enabling them to be excluded from the figures. “These firms appear to be abiding by the letter of the law, but not the spirit,” Nicky Morgan, the lawmaker from the governing Conservative Party who chairs the U.K.’s treasury committee, said in an emailed statement. “They’re taking advantage of an apparent loophole. Partners are leaders and role models in their firms. They should kno
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