UK companies with 250 or more employees are legally required to calculate and report their gender pay gap figures and this is the eighth year of mandatory reporting. Our data covers all UK employees of McKinsey & Company, including Partners and Senior Partners.
The gender pay gap is the difference in the average hourly wage of all men and women across a workforce. It is not the same as unequal pay (paying men and women differently for performing the same work). Within our firm, men and women with the same performance and experience in equivalent roles are paid equally.
2024 figures
This year the mean hourly pay gap was 22.8%, 3.0% lower than in 2023. The median hourly pay gap was 9.6%, a reduction of 3.2% compared to last year.
This progress reflects our commitment to achieving better gender balance at all levels across all pay quartiles in our organisation.
2024 pay quartiles
| Quartile | Male | Female |
| Upper | 69.5% | 30.5% |
| Upper middle | 55.1% | 44.9% |
| Lower middle | 50.7% | 49.3% |
| Lower | 38.5% | 61.5% |
Proportion of employees who received bonus pay:
Male 94.0% (94.0% in 2023)
Female 93.6% (93.4% in 2023)
Looking ahead
We are encouraged by the decrease in our mean pay gap and believe we are laying a solid foundation to address the gap. However, we recognise that there is still significant work ahead. Closing the gap is a gradual process, and achieving gender parity remains one of our top priorities.
Our new book The Broken Rung highlights a persistent challenge in gender equality where women in entry level positions are promoted to managerial positions at lower rates than men. We believe that we must do more to fix the broken rung to create opportunities for women to succeed on equal footing.
We are dedicated to the development and retention of talented women. Our data-driven approach helps us support women at every stage of their careers, especially at critical junctures. We are scaling up the programmes and initiatives that have shown to be successful and are exploring new methods to further this goal.
Similar to previous years, we continue to support new parents with a programme designed to help them transition smoothly back to work after parental leave. We are also increasing awareness and support for perimenopause and menopause in the workplace. Through our affinity networks and communities, we are sharing experiences and lessons that help every member of our diverse community of women to thrive.
I confirm the data reported is accurate.
Gareth L Jones
(Director of People, UK, Ireland and Israel)
