Diversity & Equality
Finance is one of several industries where women are under-represented, particularly in more senior roles, and this is a major contributor to the gender pay gap.
There is sometimes confusion between equal pay and the gender pay gap. Equal pay is concerned with paying people equally for doing equivalent work to the same level of performance regardless of gender. The gender pay gap refers to the difference in average hourly pay between all men and all women in a workforce. A gender pay gap typically results from an imbalance in the workforce, such as having more men than women in senior roles.
We are confident that all employees are paid fairly and equally where men and women are performing the same work to the same standard, but there is further work to be done to increase the number of women working in financial services, and increasing the representation of women at senior levels.
The most recent Gender Pay Gap Report can be found here.
To further evidence the firms’ commitment to increase the representation of woman; we have joined a growing list of signatories to the Women in Finance Charter. The Women in Finance Charter is a commitment by the HM Treasury and signatory firms to work together to build a more balanced and fair financial services industry. The Charter requires accountability, the setting of internal targets, linking pay of senior executives to the delivery against these targets and publishing progress annually against these targets on our website.
Daiwa Capital Markets Europe Limited is committed to achieving a 30% representation of women in senior level roles and a 40% representation across the firm, by 31 October 2023.
September 2019 Update
We remain a proud signatory to the Charter, and continue to focus on achieving a 40% representation of women across the firm, and a 30% representation of women in senior posts by 2023. Additionally, we set internal targets to increase the female representation on our 2019 graduate programme and as a result, changed our recruitment approach to help achieve this. As a result, the percentage of females recruited to our graduate entry scheme increased from 33% in 2018 to 86% in 2019, and the overall female representation across the firm increased from 33% to 35% over the year. This demonstrates that we have made good progress towards our objective and are on track to meet our charter target by the 2023 deadline.
There is, however, still further work to be done to increase the representation of women in senior positions, and as of September 2019 we have 18% female representation in senior management against our target of 30%. We are confident that the steps we continue to take such as flexible working initiatives, an enhanced maternity support programme, changes to recruitment activities, and a management development programme will all contribute to improving senior female representation by the target date.
Looking ahead, Daiwa will continue to take action in support of the Charter, and to build a more inclusive workforce which recognises and values all forms of diversity.