Only 25% of the highest paying job roles in the U.K. investment industry are occupied by women, according to a joint report from the Investment Association and the Thinking Ahead Institute.
The “Talent and Inclusion” report showed that this figure remains unchanged since 2018.
However, across all pay scales the gender pay gap in investment management fell from an average of 31% in 2018 to 23% in 2023.
The industry also has a relatively young workforce, with slightly over a third of employees (34%) under 35 years of age. Two thirds of employees were white/white British, with Asian/Asian British being the next most diverse represented group at 10%.
Just over two thirds (71%) of firms participating in the survey reported that they are now collecting sexual orientation data from their employees, an 8% increase on the previous year. Gay and lesbian employees made up 2% of the investment management workforce, which is a 1% increase on the previous year and aligning with the same percentage as the gay and lesbian U.K. national population.
“Building strong teams that innovate and drive business growth means hiring and nurturing talent from all sectors of society,” said Karis Stander, managing director of diversity non profit Investment 20/20, in the foreword to the report.
"By creating the right conditions where people are attracted to our industry and want to stay and build their careers, we benefit from a broad range of talent, with diversity in all its forms naturally following.”
Findings were sourced from questionnaire responses from 58 U.K. investment management firms who collectively represent 71% of total U.K. assets under management and employ 81% of the approximately 45,800 people directly employed by the industry. Over 60% of survey respondents were found to be collecting data across at least six characteristics; age, disability, ethnicity, gender, religion and sexual orientation.
The Investment Association looks to support U.K. investment management, and its 250 members manage £9.1 trillion collectively.
The Thinking Ahead Institute is a research body formed by asset management firm Willis Towers Watson.
