The following charts detail our gender pay gap for UK (excluding Northern Ireland) workforce as of 05 April 2023.
Hourly Rate Gap
On average women are paid 8.9 percent less than men in our UK (excluding N.l.) workforce. We are confident that women and men are largely paid the same for comparable roles. The overall difference in average earnings identified in this disclosure is due primarily to the underrepresentation of women in senior leadership posts. We are pleased to see an improvement in the mean and median hourly rate gap through our continued initiatives since last year. We will continue to work to reduce this gap over the coming years.
Bonus Gap
Looking specifically at the average bonus gap between men and women, the difference is 18.1 percent. This gap is primarily driven by the underrepresentation of women in leadership roles; more men are in senior positions and senior positions attract higher performance bonuses. Also, our pension bonus deferral scheme impacted our bonus gap as more women than men accessed the benefit and chose higher bonus sacrifice amounts, consequently higher bonus amounts for women have been excluded from the analysis. We are pleased to see an improvement in the mean and median hourly rate gap through our continued initiatives since last year. We will continue to work to reduce this gap over the coming years.
Proportion of men and women per quartile
The population is divided into four equal parts or ‘quartiles’, from the lowest paid to the highest paid based on the calculated hourly pay rate. This breakdown of hourly rates by defined quartiles reflects the gender differences in our workforce. Men represent the majority of the upper hourly pay quartile and women are the majority in the lower two quartiles. We are pleased to see a 5.1% improvement in the percentage of women in the upper hourly pay quarter compared to 2022.
Proportion of men and women receiving a bonus
This graphic illustrates 94.2 percent of men and 91.6 percent of women received a bonus payment in the 12 months leading up to 05 April 2023. There has been a decrease in the proportion of both men and women receiving bonus versus 2022. This change can be attributed to various factors; the previous reporting period included a one-time bonus that was not replicated in this reporting period, there was also impact on timing of new hires and their bonus eligibility in the reporting period (more women new starters) and participation in the bonus deferral scheme (more women participating and electing higher bonus sacrifice amounts).
I confirm the data reported is accurate.
Boston Scientific Limited
/s/ Jonathan Monson
Jonathan Monson
Director