Introduction
At Reward, we are committed to fostering an inclusive and diverse workplace. As part of our dedication to transparency and equality, we present our Gender Pay Gap Report for the year ending 5th April 2025, in line with UK government regulations:
“The gender pay gap is the difference between the average pay of men and women in an organisation. Any employer with 250 or more employees on a specific date each year must report their gender pay gap data.”
Executive summary: Gender pay gap report 2025
Executive Summary: Gender Pay Gap Report 2025 We are pleased to report that our mean gender pay gap has improved, shifting from 2.3% in 2024 (in favour of men) to -1.6% in 2025 (in favour of women). This demonstrates meaningful commitment toward pay equity at Reward.
To provide clear and concise insight into our findings and actions, we have summarised four key takeaways at the start of this report. These highlights offer an accessible overview for leadership, stakeholders, and employees, ensuring everyone understands our current status, the complexities involved, and our ongoing commitment.
Presenting these key points upfront supports transparency, drives engagement, and reinforces our accountability in creating a fair and inclusive workplace. They are:
Improved pay equity
Our mean gender pay gap has shifted positively from 2.3% in 2024 (men earning more) to -1.6% in 2025, with women now earning slightly more on average. The median pay gap also favours women at -6.1%, both figures comparing favourably against national (14.3%) and global (~20%) benchmarks.
Bonus gap insights
While men receive higher average bonuses (mean bonus gap of 14.3%), the median bonus gap shows women typically receive slightly higher bonuses (-11.3%). This difference is influenced by bonus eligibility, seniority, and a small number of men receiving relatively higher bonuses
Variable seniority and role distribution
Gender representation in senior roles varies across functions, with no consistent advantage for either gender. Our data does not indicate women face systematics lower career progression across the organisation, highlighting the need for targeted, function-specific approaches to equity.
Ongoing commitment to closing the gap
Reward is actively addressing pay equity through transparency, diverse hiring and promotion practices, family-friendly policies, leadership development for women, and bias reduction initiatives, ensuring sustainable progress toward a fair and inclusive workplace.
Gender pay gap reporting: Purpose and context
Gender pay gap reporting plays a vital role in promoting workplace equality by:
• Ensuring transparency and accountability on pay equity
• Encouraging organisations to identify and address inequalities
• Supporting government and societal efforts to promote fair and inclusive workplaces
• Helping attract and retain diverse talent by demonstrating a clear commitment to fairness.
Two key measures are used to assess the gender pay gap:
Mean gender pay gap
• This measures the difference between the average (mean) hourly pay of men and women
• It can be influenced by very high or very low salaries, thus highlighting disparities driven by top earners in the organisation.
Median gender pay gap
• This measures the difference between the middle hourly pay point when all salaries are sorted from lowest to highest.
• The median better reflects typical earnings by reducing the influence of extreme pay values, providing a clearer picture of the typical employee’s pay difference.
Our gender pay gap and bonus gap results
*Between 5th April 2024 and 5th April 2025, our mean gender pay gap reduced from 2.3% to -1.6%.
As of April 2025:
Bonus Gap Context
While the mean bonus gap shows men receiving higher bonuses on average, the median bonus gap indicates that women typically receive slightly higher bonus amounts. This difference can be explained by several factors:
Bonus Distribution Skew:
A small number of men receive larger than average bonuses (outliers), which significantly raises the average (mean) bonus for men but has no impact on the median.
Role or Seniority Mix:
Men are more likely to hold senior or high-paying roles with larger bonuses, pushing up the mean. Meanwhile, women in mid-level roles often receive consistent but smaller bonuses, which raises the median bonus for women.
Bonus Eligibility Differences:
A higher % of the male population were eligible for bonuses during the snapshot period overall, increasing the proportion of men receiving bonuses and inflating average bonus amounts for men. Among those who receive bonuses, women’s bonus payments tend to be more consistent or slightly higher at the median.
This nuanced picture highlights the importance of considering both mean and median figures to fully understand gender differences in pay and bonuses.
Additionally, this discrepancy is influenced by a shifting employee population: during the reporting period, a higher number of men were recruited earlier on in the financial year increasing the number of men eligible to receive bonuses at the end of the financial year bonus period, particularly in technical and commercial areas. This impacted the overall bonus distribution and proportion of recipients.
Pay quartiles explained
Pay quartiles help us understand gender distribution across different levels of pay within Reward. Employees are divided into four equal groups based on hourly pay, from the lowest (Lower Quartile) to the highest (Upper Quartile).
While the overall pay gap is now in favour of women, men continue to hold a greater
proportion of roles in all quartiles, suggesting other contributing factors are at play (e.g.
role types, length of service, bonus eligibility).
How we compare to industry benchmarks
• According to the UK Office for National Statistics (ONS), the national median gender pay gap was approximately 14.3% in 2024, with the mean gap at 13.1%, meaning women earned 13.1% less than men on average across the UK workforce.
• The World Economic Forum’s 2024 Global Gender Gap Report highlights a global average gender pay gap of around 20%.
Our median pay gap of -6.1% and mean pay gap of -1.6% compare favourably to both national and global averages, demonstrating our strong commitment to pay equity.
Analysis & contributing factors
The gender pay gap at Reward is shaped by a range of factors:
• Representation in technical or specialist roles, which typically have higher pay scales.
• Proportion of men becoming bonus-eligible due to recent hiring trends.
• Differences in seniority levels across functions, not consistently favouring one gender.
The pay gap varies across levels and is not consistently skewed in favour of men. This means there isn’t a uniform pattern where one gender consistently dominates senior roles across all areas. In fact, at certain leadership levels (e.g., within the Leadership Team of 12), the gap currently favours women. At other levels, particularly within the broader management group, men hold more senior or higher-paying roles. These inconsistencies point to a complex picture, rather than a simple linear gap.
Therefore, our focus will remain on ensuring fair progression opportunities for all, while addressing imbalances wherever they emerge.
Ongoing actions to reduce the pay gap
Reward remains committed to reducing the gender pay gap and driving long-term, sustainable change. Our efforts include:
Pay transparency & reviews
• Conduct annual pay and bonus audits to identify and correct disparities.
• Publish salary bands to improve transparency and empower employees.
Recruitment & promotion strategies
• Use diverse hiring panels and remove gender bias from job descriptions.
• Monitor promotion rates across genders and adjust internal processes to support equity.
Flexible & family-friendly policies
• Support returners from family leave with career coaching and reintegration programs.
Leadership development & mentorship
• Invest in Women in Leadership programs to support pathways into senior roles.
• Build mentorship networks to connect employees with senior sponsors and role models.
Workplace culture & bias reduction
• Deliver anti-bias training across the business.
• Ensure equal access to high-visibility projects, which often drive promotion and pay increases.
Conclusion & declaration
We acknowledge that closing the gender pay gap is a complex and ongoing challenge, influenced by multiple structural and contextual factors. While we are encouraged by the progress reflected in this year’s data, we know there is more to do.
We will continue to act decisively, guided by data and values, to foster a workplace that offers fair pay, equal opportunity, and inclusive support for all employees, regardless of gender.