UK Gender Pay Gap 2024 Disclosure

Memorandum from Richard Gnodde, Anthony Gutman and Kunal Shah to Goldman Sachs Employees

Today, we published the annual UK gender pay gap disclosure for Goldman Sachs International (GSI), Goldman Sachs (UK) SVC Limited (GSUL), and Goldman Sachs Asset Management International (GSAMI).

The UK gender pay gap disclosure is not a measure of whether we pay men and women equal pay for equal work – which is what we do at Goldman Sachs. The UK gender pay gap disclosure assesses pay without adjusting for factors such as seniority or role type.

Based on a snapshot of 5 April 2024, the aggregated mean hourly pay gap across our UK entities is 41.4 percent (vs 46.2 percent last year), which is based on the total number of men versus women across all levels. For more information regarding the individual entities, please view the full results below. These numbers reflect that despite the progress we have made, we still have work to do, and we will continue to focus on attracting and retaining diverse, exceptional talent.

The firm recognizes that it needs the most talented people to deliver outstanding results for clients, and that the diversity of its workforce, including a diversity of perspectives, enhances its performance-based culture and is critical to its commercial success.

Richard, Anthony and Kunal

Charts
Hourly Pay and Bonus Pay 

The information below shows our mean and median gender pay gap and bonus gap for our combined UK group entities (all UK) and three individual UK group entities Goldman Sachs International (GSI), Goldman Sachs (UK) SVC Limited (GSUL) and Goldman Sachs Asset Management International (GSAMI) as at the snapshot date (i.e. 5 April 2024 (pay) and in the 12-month reference period to 5 April 2024 (bonus)).

Proportion Receiving a Bonus

This chart shows proportion receiving a bonus by gender

The proportion of women and men at each hourly pay quartile

The information below shows gender distribution across our combined UK group entities (all UK) and each individual UK group entity across four equally-sized quartiles. The quartiles demonstrate the fact that we have a higher proportion of women than men in more junior roles and a higher number of men than women in senior and management roles.

I confirm the accuracy of the 2024 Goldman Sachs UK Gender Pay Gap calculations in the above report.

- Ruth Smithson