According to the most recent gender pay gap filings mandated by the government, tech companies such as Revolut, Checkout.com, and Starling, among others, exhibit disparities in pay between male and female employees that exceed the national average. 

The national gender pay gap currently stands at 9.1p less for every £1 earned by male counterparts in companies with over 250 employees. However, when looking at the UK’s tech landscape, the gap widens substantially. 

While there have been efforts to address this issue since the inception of pay gap reporting in 2018, recent figures paint a concerning picture of stagnation in its progress. Of the companies required to file gender pay gap data for consecutive years, half displayed a worsening pay gap this year.

Notably, names like Multiverse, Quantexa, and Checkout.com witnessed a widening pay gap between the 2023 filings and this year. In addition, pet insurance company ManyPets recorded a pay gap exceeding seven times the national average, and Allica Bank, a small business neobank, emerged as the second-worst performer despite its recent accolade as one of the fastest-growing startups in the UK and Ireland by revenue.

The issue extends beyond mere financial statistics. The lack of gender diversity in leadership positions within startups was also apparent, with less than half of the UK’s best-funded tech companies boasting more than 25% representation of women in their highest pay quartile roles. 

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This gender imbalance isn’t confined to startups alone; it pervades the wider tech ecosystem. Venture capital firms, for instance, exhibit a mere 16% representation of women in general partner roles, as per Atomico’s 2023 State of European Tech report. Additionally, the report highlights the disproportionate allocation of funding, with just 7% directed towards women-founded startups in 2023.

Despite these challenges, some glimmers of progress are noted, such as SME credit card provider Capital on Tap, which showcased an improvement in gender pay equity over the past year. Nevertheless, the overarching trend suggests that concerted efforts are needed across the tech industry to address and rectify this persistent gender pay gap.