UK Gender Pay Gap Report

We’re pleased to announce the release of our UK Gender Pay Gap Report for 2024, as part of our ongoing commitment to transparency and our dedication to fostering gender equality within our workforce and across our industry.

What is the Gender Pay Gap?

The Gender Pay Gap shows the difference between the average pay and bonus of men and women across a workforce. UK companies with 250+ employees are legally required to report annually on their Gender Pay Gap. Our report covers UK employees, and is a snapshot taken by all reporting companies on the same date — in this case, 5 April 2024.

In addition, we've divided all UK employees into four pay quartiles based on their hourly compensation. A breakdown of the percentage of men and women in each quartile is provided below. 

Our Gender Pay Gap report categorises individuals by their legal gender, either men or women. However, as a company, we're committed to treating all Revoluters fairly, including those who are trans, non-binary, or any other gender identity.

Revolut’s Gender Pay Gap

Over the past year, we’ve made significant strides in reducing both our mean and median gender pay gaps, reflecting our continued commitment to fostering a more equitable workplace. As of 5 April, 2024, we reduced our mean pay gap by 4.99% from 19.54% in 2023 to 14.54% and our median pay gap from 18.4% to 12.67% demonstrating a 5.73% reduction.

A key factor in this reduction has been the positive shift in the representation of women across different pay quartiles within our organisation.

We’ve seen a decrease in the number of women in lower-paid roles, alongside an increase in women holding higher-paid positions.

This shift has contributed significantly to narrowing our gender pay gap and reflects the impact of our efforts to create more opportunities for career progression, ensure equitable promotions, and support the development of diverse talent.

This progress is a testament to our company’s growth and maturity, as well as our ongoing efforts to refine our processes and ensure fairness at every stage of the employee lifecycle.

By strengthening our approach to hiring, promotions, and pay reviews, we’ve been able to mitigate bias more effectively and create a more level playing field.

While we’re proud of the progress we’ve made, we remain dedicated to furthering this work and continuing to drive meaningful, lasting change.

Revolut’s Bonus Pay Gap

We’re proud to share that we have once again decreased our mean bonus gap, marking another year of progress in creating a more equitable reward structure. In 2023, our mean bonus gap was 40.58% and it now stands at 39.58%.

This continued improvement reflects our commitment to fairness in compensation and recognition, ensuring that bonuses are distributed more evenly across our workforce. This is further reflected in the percentage of women who received bonuses this year, increasing from 35.69% to 43.43%.

In order to comply with government guidelines, our bonus pay gap calculations are based on bonuses received in cash or equity bonuses that have been exercised.

A significant portion of cash bonuses come from our sales incentive scheme, which awards commissions based on a percentage of employee sales to reflect a fair recognition of individual contributions.

We also award cash bonuses to high performers in eligible roles, based on our robust, merit-based performance review process. We've seen an increase in our median bonus gap to 8.9%, which was primarily driven by adjustments to these policies.

We continue to refine our processes to strengthen fairness, ensuring our bonus schemes reward top talent, drive retention, and are distributed equitably.

Furthermore, exercising equity bonuses is a personal choice made by each individual employee and is dependent on preference, as well as sale opportunity in any given year. Since equity bonuses are rewarded as a percentage of pay, they tend to favour higher-paid employees and men, in this case, were overrepresented.

As we move forward, we remain committed to fostering equity at all levels through initiatives such as our RevUp women’s mentorship scheme and our bias-mitigating recruitment programme so that more employees, regardless of gender, can benefit from these opportunities in the future.

Our progress in closing the bonus pay gap is closely tied to our ability to elevate more women into higher-paying roles and expand opportunities for them to receive bonuses. As we continue to make strides in both areas, we are confident that this momentum will drive us toward the long-term goal of fully eliminating the bonus pay gap across our workforce.

Reducing our Gender Pay Gap

We’re proud of the progress we’ve made in closing our pay gaps, but we know that sustainable change comes from intentional action. That’s why we’re focused on attracting talented women, supporting their career growth, and creating a more balanced workforce.

We'll continue to encourage women and girls to pursue STEM careers — continually review our hiring and promotion processes to ensure we mitigate any potential bias, and strengthen our inclusive guilds to build a workplace where everyone feels valued, engaged, and supported.