What is the Gender Pay Gap?

The Gender Pay Gap Report covers six key metrics, each metric providing a slightly different take on our gender pay gap. It is important to note that gender pay reporting does not only include base pay, but it also makes considerations for payroll allowances and salary sacrifice arrangements.

Gender pay is different to equal pay. Equal pay is a legal obligation that requires employers to ensure they are paying men and women equal pay for equal work or work of equal value as detailed in the Equality Act 2010. The Gender Pay Gap Report shows the differences in the average pay by comparing all pay of all employees regardless of their position in the company.

Please see the below chart for a summary of the six key metrics.

Key:

Relevant employee – employees employed on the snapshot date

Full-pay relevant employee – all employees employed on the snapshot date and who are paid their usual full basic pay. We must exclude those that were not paid their usual full basic pay because they were on leave e.g. employees on family leave, sick leave, unpaid leave.

* It is important to note that this year’s figures are a point in time reflection taken from payroll in April 2025, they are also subject to certain limitations and do not include anyone on any type of statutory or unpaid leave during the period, i.e. maternity/parental, sick leave or unpaid leave.

What factors impact the gender pay gap?

A pay gap is influenced by many social and economic factors, some of which a company can impact through thoughtful and progressive action. For example, having the right policies and strategies in place and ensuring we provide workplace flexibility to accommodate employees with caring and other responsibilities. The gender pay gap is shaped by longstanding societal factors that influence the opportunities and career paths available to women. Traditional gender norms often lead to occupational segregation, with women more commonly entering lower‑paid sectors and being under‑represented in higher‑earning STEM or senior leadership roles. Women also tend to take on a greater share of unpaid care responsibilities, which can limit their working hours, interrupt career progression, and reduce lifetime earnings.

Frazer-Nash Gender Pay Gap Report 2025-26 – Snapshot date 5 April 2025

We confirm the information and data reported are accurate as of the snapshot date and in line with the UK Government’s Equality Act 2010 (Gender Pay Gap Information) Regulations 2017

Our Data

Our data shows a continued downward trend in both our median and mean pay gaps for 2025, with our median reducing by 9% since 2020 and our Mean reducing by around 4% over the same period. Our overall gender split remained consistent at 26%.

In our Pay quarters we have seen a significant shift in our upper quarter since 2020 from 6.1% women to 14% women. Our lower and mid quarters have remained stable with some drops in the lower-mid and upper-mid quarters, we continue to analyse these trends to understand the factors that may have impacted movement in these quarters. This analysis includes time to promotion, recruitment and retention metrics. Supporting our women to reach their career goals through our merit-based process is a continued focus in our inclusion strategy.

The upward trend in the upper quarter is a positive step and demonstrates that more women are moving into higher level roles.

Mean Gender Pay Gap

Median Gender Pay Gap

Mean Bonus Gap

Median Bonus Gap

Gender Split

Men | Women

Pay Quarters

Proportion Paid Bonus

Men

Women

Mean and Median Gap - 26% women overall split

Pay Quarters

Bonus Gap

Proportion bonus paid

What are we doing?

We remain committed to fostering an inclusive, equitable culture where everyone can belong, connect and grow. We are focussed on continuing to reduce our gender pay gap year on year, through transparency and accountability, ensuring equality of opportunity and investment in our people.

We are committed to strengthening the pipeline of women into senior and leadership roles. We are investing in leadership development programs and mentorship to ensure women are confident, supported, and equipped to step into senior positions, alongside our Conscious Inclusion program to support all of our people to embed inclusive behaviours. Through these initiatives and our Inclusion Roadmap, we aim to remove barriers, build capability, and create a workplace where leadership reflects the diversity of our people.

Over the last 8 years, we have been making steady and sustained progress towards closing the gap., Our Senior Leadership Team is now 36% women- an increase of 24% over this period. Women in senior roles i.e. Group Leader and above now also sits at 16%. Our early careers cohorts are also significantly more gender balanced over the same period.

This is an ongoing journey of improvement, learning, and action as we work toward lasting gender equality.

Our Key Actions:

We have increased our support in a number of key areas including:

For those taking family leave, including an attractive offering for maternity, paternity and enhanced shared parental leave.

We have implemented software to support in ensuring our job adverts and communications are inclusive and free from gender coded language.

We have implemented a range of benefits that support all our people in their life stages from fertility and menopause support to family friendly benefits such as back up childcare.

We continue to support our people to undertake STEM outreach, to inspire the next generation of STEM professionals.

We are building on the success of our second Returners programme in 2025 and are now preparing for our third cohort later this year.

This year, we will continue much of this work while also introducing new interventions to sustain our momentum and further reduce our gender pay gap. Alongside this, we will maintain our careful analysis of pay equity at all stages, including metrics such as time to promotion, leavers by gender, and the strength of our talent pipeline, to help us identify and address any potential barriers within our processes. While we have made meaningful progress, there is still more to do to ensure a robust pipeline of women joining Frazer Nash and progressing their careers as we continue our efforts to narrow the gender pay gap.