Gender Pay Gap Reporting Statement
Santander Consumer (UK) plc
Santander Consumer (UK) Plc (SCUK), trading as Santander Consumer Finance is part of the Spanish Banco Santander Group. Santander Consumer Finance provides a range of products designed for purchase of personal and business vehicles. Our finance and related products are distributed via a network of dealers and intermediary introducers, and also through partnerships with selected car and motorcycle manufacturers. We are one of the UK’s leading independent finance companies with over half a million live customer agreements.
In addition, we have Joint Venture arrangements with Hyundai Capital and Banque PSA Finance UK providing wholesale finance facilities for both Hyundai and Kia, as well as Peugeot and Citroën dealer networks. Our head office is in Redhill, Surrey and we have a field sales force based across the United Kingdom.
As a motor finance organisation within the financial services sector, like many organisations, SCUK is affected by traditionally male dominated populations in senior positions. As of Q3 2018 women made up 14% of our senior management team. This is our most senior, and therefore our highest pay grade. At next level down, 24% of the population is made up of women, a 4% increase on Q1 2018.
We are confident that SCUK’s gender pay gap is not a pay issue; our approach to pay is gender neutral by design where like work for like pay is measured.
Although just over 50% of our population is female, SCUK has a lower representation of females in senior roles which is reflected by a more differentiated mean and median gap for pay and bonus. There is a gap of 32% between male and female mean pay and a median gap of 28%. 83% of men and 81% of women earned bonus at SCUK suggesting that there is no discrimination. It should be noted that exclusion to bonus is only on the basis of an objective based, measurable performance, where underperformance is not rewarded. SCUK’s bonus schemes are gender neutral by design but the shape of our workforce drives our mean bonus gap of 52% and a median bonus pay gap of 42%. This increase on Q1 2018 figures is the causal effect of the business performing well against its new business target resulting in higher sales bonus payments. Whilst the demographic make-up of the business hasn’t changed, the sales team is predominantly male which has resulted in this shift. It should be noted that the upper middle pay quartile has increased by 3% for females demonstrating a positive move in the number of women who have been promoted to a higher level over the last 12 months. The four pay quartiles simply demonstrate the fact that women are proportionately under-represented in the very highest paid roles.
SCUK has a diverse and inclusive culture and is about ensuring everyone, regardless of their background, ethnicity or gender has an opportunity to progress, develop and thrive.
Pay and Bonus Gender Pay Gap
|Hourly Fixed Pay||32.77%||28.56%|
Proportion of Employees Paid a Bonus
Santander Consumer (UK) plc confirms the published gender pay gap reporting is accurate and signed by the Finance Director, Diane Roberts.