Atom’s gender pay gap report

UK Companies with 250+ employees must produce a gender pay gap report

Gender pay gap report 2020 & 2021

The data below provides a snapshot of the organisation taken on 5th April 2020 and 5th April 2021. These are the statutory dates on which the data must be captured, and the analysis carried out.

The deadline for reporting for gender pay gap data was extended as a result of Covid-19. We are now publishing our official 2021 data together with that relating to 2020.

If an organisation reports a gender pay gap, it does not mean women are paid less than men for doing the same job. It is important to note that there is a fundamental difference between gender pay and equal pay. Equal pay is men and women being paid the same for the same work.

At Atom bank we are confident that men and women who occupy the same roles are paid equally. However, our gender pay gap shows that, on average, men occupy higher-paying roles than women.

Employers must report six different measures, based on a snapshot of pay data on a set date set out by the Government Equalities Office:

Our gender pay gap

We fully understand the drivers of Atom’s gender pay gap and in consequence we are focussed on ensuring that we recruit more women to senior roles in the firm.

Table showing the Mean pay gap at Atom bank, averaging at 31.1% for 2021
Table showing the Median pay gap at Atom bank, averaging at 32.5% for 2021

From 2020 to 2021 we have seen our median gender pay gap narrow by 1.4%, a positive (if modest) step in the direction to which we are committed. Atom operates at the intersection between the tech and finance industries, both of which and particularly the former continues to be dominated by men. The UK average gender pay gap remains consistently and significantly lower than those for the finance and technology industries.

Our pay quartiles

Infographic showing the gender splits for the different pay quartiles across Atom bank

At Atom bank, 37% of our total headcount is made up of women and, while we have more men than women in our more senior and higher paid roles, we are correcting this imbalance. We have continually grown the proportion of women in the upper-middle quartile and from 2020 we have promoted three women to Executive Committee roles. The salary range in the upper quartile is wide and so it will take time for newly appointed senior executives to gain experience in their new roles and achieve salary parity. We will not delay in making this transition.

Our bonus gap

Due to the COVID-19 pandemic, Atom made the decision to cease bonus payments in order to protect the business during what was a period of significant uncertainty.

Our goals

Our goal is to close the gender pay gap at Atom bank in the shortest time possible. To achieve this, we will:

  • Drive diversity through our talent pipeline ensuring that hiring Coaches receive diverse candidate and interview lists;
  • Continue to communicate and to embed the importance of diversity and inclusion right across our firm;
  • Continue to work closely with the Tech Talent Charter in both influencing the diversity agenda and learning from others to help us in our own journey. The Tech Talent Charter are a non-profit organisation leading a movement to address inequality in the UK tech sector and drive inclusion and diversity in a practical and uniquely measurable way;
  • Continue to support the Women in Finance Charter in working together to build a more balanced and fairer financial services industry;
  • Continue to provide development and learning opportunities to all of our people at Atom. We will do this through the sharing and establishment of clear career pathways, communicating secondment opportunities, and promoting our people into permanent positions based on performance;
  • Conduct regular salary benchmarking exercises to ensure our people are paid fairly for the work they do.
  • Atom will grow its recruitment team to ensure that there is adequate resource provide greater focus on increasing diversity and inclusion, the acquisition of talented females and those with high potential.