Peel Hunt has reported a median hourly gender pay gap of 53.3% for 2024 — the widest among major UK investment banks. This means that, on average, women at the firm earned just 47p for every £1 earned by men. While this marks a slight improvement from the 56.7% gap reported in 2023, the disparity remains substantial and has prompted renewed attention on gender equity in financial services.
According to the firm’s published pay data, only 6.8% of the highest-paid roles at Peel Hunt are held by women, while 52.7% of jobs in the lowest pay quartile are occupied by women. The company, which employs around 300 people, is required to report its gender pay figures under UK law, alongside all organisations with more than 250 employees.
In its annual gender pay gap report, Peel Hunt acknowledged the imbalance and outlined a series of long-term commitments to drive change. Among these are targets to improve female representation across senior roles, an ambition to reach 40% women in its global workforce by 2035, and the introduction of internal initiatives such as mentorship programmes, parental leave reviews, and inclusive recruitment practices.
The firm also highlighted cultural change as a critical part of its strategy. It acknowledged that structural inequalities and historic norms in the finance sector continue to create barriers for women — especially in revenue-generating and leadership roles. To address this, Peel Hunt stated that it will continue to invest in leadership development, flexible working options, and a more inclusive workplace culture.
Despite these commitments, Peel Hunt’s figures remain higher than the already significant gaps seen elsewhere in the sector. The firm’s mean gender pay gap stands at 37.3%, placing it in line with — or above — several of its peers. Other investment banks reporting major gaps this year include Rothschild at 47.7%, Numis at 47%, HSBC at 44.9%, JPMorgan at 40.5%, and Jefferies at 36.2%.
Experts say the figures across the industry point to persistent, systemic challenges. Although gender representation is improving in graduate and early-career recruitment, the pipeline to senior leadership remains narrow for women. Addressing the gap will require more than reporting — it will depend on sustained cultural and structural reform.
Campaigners and workplace equality advocates continue to push for more transparency and accountability, not only in publishing pay data but in tracking real progress over time. Stakeholders — including employees, regulators, and investors — are increasingly calling on firms to go beyond compliance and demonstrate measurable change.
At present, Peel Hunt has made no additional public comment beyond its published report. However, as gender pay gaps in finance remain under scrutiny, the firm’s next steps will be watched closely — not only by its employees, but across the wider sector.
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