The European Banking Authority published its remuneration and gender pay gap benchmarking report using 2023 data for institutions and investment firms, finding a material gender pay gap and broadly stable remuneration practices in institutions over 2021–2023. The report also highlights that variable-to-fixed remuneration patterns in investment firms remain higher and less stable, reflecting changes following the introduction of the Investment Firms Directive. For identified staff, the average variable-to-fixed remuneration ratio in investment firms was 145.85% in 2023 (191.42% in 2022), compared with 59.59% in institutions (58.62% in 2022). The highest ratios were concentrated in specific activities, with investment firms engaged in dealing on own account, underwriting and placing of instruments showing an average ratio of 521%, while other business areas ranged between 35% and 120%. On pay outcomes, female staff in institutions earned on average 24.48% less than male staff in 2023, with a 21.64% gap for identified staff; in investment firms the gaps were 32.0% for all staff and 31.74% for identified staff. The report attributes the gap mainly to underrepresentation of women in higher-paid roles, with women holding 33.45% of the highest-paid positions in institutions and 12.99% in investment firms, alongside median female representation of 51.65% in institutions and 35.43% in investment firms. The EBA notes the data indicates a need for firms and competent authorities to further analyse the drivers of the gender pay gap and to address pay and representation disparities, and it is revising its internal governance Guidelines to strengthen monitoring of gender aspects in institutions and investment firms.

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