Bank of Ireland listed in the Eurozone Equality Index

Bank of Ireland has made it into a Paris Stock Exchange Gender Equality Index, the only Irish company on the list.

The listing comes ahead of Ireland’s first gender pay gap reporting season, which begins next month.

The Bank of Ireland is included in the Euronext Equileap Gender Equality Eurozone 100 Index, which was launched on Tuesday, along with luxury brand owner LVMH and consumer goods giant Unilever.

Danone and Amundi, which employ many people in Ireland, are also on the list.

Companies are ranked based on high scores across 19 criteria, including gender balance in the workforce and leadership, equal pay, equality policies and transparency.

The Bank of Ireland has been publishing voluntary reports on pay gaps in Ireland for the past two years.

In 2021, men earned on average 23.8 percent more than women – a slight decrease from 2020.

In the UK, the bank’s pay gap was much higher at 34.89 per cent last year, despite employing almost as many men as women across the firm.

From Thursday, companies with more than 250 employees will be required to publish any difference in hourly wages and bonuses between men and women and the proportion of men and women in higher and lower pay brackets in Ireland.

Similar legislation has been in place in the UK since 2017.

An analysis of more than 50 Irish based companies by – based on mandatory UK and voluntary Irish disclosures from 2021 – found that the pay gap here is about 16 per cent in favor of men.

While the research is not exhaustive, it shows that the biggest differences between men’s and women’s earnings are in law firms, transport companies, management consultancies and banks.

A much larger study conducted by Universum, the research arm of IrishJobs, found a 16 per cent gender pay gap in Ireland by 2022, with the largest gaps in the IT sector.

The news comes as the government’s Retail Banking Review recommends removing salary and bonus caps for bankers introduced after the 2009 bailout. Bank of Ireland listed in the Eurozone Equality Index

Fry Electronics Team

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