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Striving for Parity

Striving for Parity

At Bain & Company, our greatest asset is our community of extraordinary teams. We are committed to ensuring Bain is a workplace in which all members of our teams can thrive, personally and professionally. 

Diversity—of gender, background, ethnicity, and sexual orientation and identity—is a strategic imperative for our global firm. Bringing this diversity together, in a way that celebrates and gets the best from it, helps us to offer new perspectives to solve our clients' most challenging problems, to build client relationships that change behaviours and deliver true results, and to deliver unparalleled learning and experience for our employees.

Meritocracy – equality of opportunities and rewards for all our team members – is a fundamental principle of our culture. At each level, base pay is standardised and bonuses are awarded based on performance versus a transparent set of metrics. Overall our London office is 48% women, however our consulting team, and in particular our senior consulting team, skews male. This employee mix causes a gender pay gap when averaged across all roles and levels of the organisation.

We strive to ensure Bain & Company is a great place to work—for everybody. We were ranked #2 best place to work in the UK in the 2018 Glassdoor rankings, and we consistently are recognised in global workplace awards for our commitment to diversity and inclusion.

Despite our progress to date, we are not satisfied with the gap in gender representation at the senior levels in our firm. We know we have more to do to build a diverse leadership team and achieve gender parity at every level.

Our recent brief Take Action, Gain Traction, based on a survey of nearly 5,000 working professionals, and experience internally and with a number of client organisations, highlights five corporate actions that can improve inclusion and diversity in the workplace.

Taking Action

Taking Action

We are applying these insights and actions to all forms of diversity to make Bain London the best place to work for everyone, though this particular action plan focuses on gender diversity.

Focus on the facts: Our data shows that, on average, women in our London consulting team are retained and promoted in line with men across all levels. However, we are not complacent and see clear room for improvement when it comes to recruiting, at all levels—more deliberately seeking out qualified women for our open roles and encouraging them to apply. We have seen success in recent years, with our main recruiting intakes reaching more than 40% women, on average, and reaching about 50% in certain years. We have more to do to deliver this consistently across all levels, and we are continuing to invest.

Mitigate potential bias systematically: We’ve revamped our graduate recruiting processes, taking extra steps to systematically mitigate potential unconscious bias. We’ll expand what we’ve learned to other areas of recruiting and the business more broadly, embedding a common language and understanding throughout and drawing on the expertise of our global unconscious bias team.

Focus on flex, carer support and sponsorship: We are committed to ensuring all of our employees have the pathways, support and advocates they need to thrive. This includes flexible career paths available to all, including part-time schedules, leaves of absence, and opportunities to transfer to other offices or periodically rotate into different roles.

We have extended paid parental leave policies for women and men, ongoing emergency family care cover for all, and a Parents@Bain support network.

In addition to our mentoring programme for everyone at Bain, 90% of our female leaders in London actively engage with a sponsor, who aims to help them reach their full potential.

Most of these flex and sponsorship initiatives have been in place in our UK business for a number of years.

Lead and cascade: Bain’s Global Women’s Leadership Council brings together leaders across the firm to define strategic gender parity priorities for our firm and its line leaders. Our London Women@Bain and Talent teams work closely with me to ensure we deliver on these and increase the visibility of female leaders in our London office. We have similar initiatives in place for other diversity groups as well - such as BGLAD, our LGBTQ network – and we are mobilising an ally community to allow others to demonstrate their support

We are actively looking at ways to evolve every day behaviours and signals to ensure a culture of inclusion: we encourage our leaders to understand both personal and professional context for their team members, to transparently role model lifestyle boundaries and trade-offs, and to encourage open, honest dialogues on societal topics that impact our people.

Communicate intentionally and inclusively: We are committed to ensuring Bain & Company remains a community of extraordinary teams, in which all individuals can thrive, personally and professionally. But we are also always dissatisfied with the status quo. We are striving toward gender parity at all levels of our organisation and constantly looking for innovative ways to improve our workplace, challenge ourselves and deliver meaningful results.

— Michael Garstka | Managing Partner, Bain & Company, Inc. United Kingdom

Our Gender Pay Gap Data

Our Gender Pay Gap Data

Our 2018 Data

Understanding Our Data

In aggregate, our London office is comprised of 48% women, however, our consulting team, and in particular our senior consulting team, skews male. This employee mix causes a gender pay gap when averaged across all roles and levels of the organisation.

While the mean has not changed since last year, the median gap has narrowed by six percentage points. The calculated mean hourly pay for women is 30% less than men, and the median hourly pay is 30% lower for women.

At senior levels, performance bonus accounts for a greater portion of total compensation, so the impact of having a smaller proportion of women in our senior team is greater when we look at bonus pay. Our mean bonus pay gap is 81%, with a median of 67%. The median gap is 8 percentage points lower than last year.

The narrowing of the gap in median pay for both hourly rates and bonus pay has been driven by an increase in female representation in the top two quartiles of our business, particularly the second quartile—the result of focused recruiting efforts in the last few years.

The percentages of men and women receiving a bonus reflect new Bain hires, who had not yet received their first bonus when we collected this data.

While we understand what is driving these differences, we are not satisfied with the gap in gender representation at the senior levels in our firm, and we are taking action to address it.

I confirm that the data is accurate.

— Michael Garstka | Managing Partner, Bain & Company, Inc. United Kingdom

Our 2017 Data

Understanding Our Data

In aggregate our London office is 47% women, however our consulting team, and in particular our senior consulting team, is more skewed towards men. This mix of employees causes us to have a gender pay gap when averaged across all roles and levels of the organisation.

The calculated average hourly pay for women is 30% less than men, and the median salary is 36% lower for women.
At our senior levels, a greater proportion of total compensation is paid as a bonus, compounding this effect in the bonus gender pay gap calculation. Our average pay gap rises to 80%, with a median of 75%.

The percentages of men and women receiving a bonus reflect new Bain hires, who had not yet received their first bonus when we collected this data.

While we understand what is driving these differences, we are not satisfied with the gap in gender representation at the senior levels in our firm, and we are taking action to address it.

I confirm that the data is accurate.

— Michael Garstka | Managing Partner, Bain & Company, Inc. United Kingdom

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