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TSB’s Pay Gap 2024

Diversity Equity and Inclusion

  • TSB serves communities across the UK bringing Money Confidence to everyone. Every day.
  • We want to ensure we are as diverse behind the scenes as our customers are.
  • That’s why we published a set of goals in 2021 to increase the diversity of our teams.
  • These goals include maintaining at least 40% of women in senior roles, as well as increasing the representation of Black, Asian and minority ethnic leaders to at least 10%.
  • In 2024 41% of senior roles held by women. Additionally, 4% of senior women describe their ethnicity as Black, Asian or minority ethnic.
  • We also publish both our gender and ethnicity pay gap’s annually, sharing them is an important part of our commitment to equality and diversity. 

Real Progress. Reducing our pay gaps: We measure pay gaps based on gender and ethnicity, and In the 8 years since we started published our gender pay gaps, they have decreased. We recognise we need to do more to be representative of our customers at every level of TSB, so we’ll always be transparent and honest about how we’re doing.

Gender: This is the 8th year TSB have published our Gender pay gap. When we signed up to the Women in Finance Charter in 2017, we had 36% female representation and our target was 40% by 2022. As of September 2024 our female representation in senior management is 42%. We remain on course to meet our Charter target of >42% by our deadline of 2025.

Ethnicity: This is the fourth year TSB have published our Ethnicity pay gap.  When we created our Inclusion Strategy in 2021 our Black, Asian and minority ethnic colleague representation was 11.5% and our target was 14% by 2025. As of September 2024 our Black, Asian and minority ethnic colleague representation has exceeded our goal and is at 18%. During the period we have also seen our diversity data sharing increase to 96%.