Shaping the Sector: Socio-economic Diversity and Senior Roles in Financial Services
Shaping the Sector: Socio-economic Diversity and Senior Roles in Financial Services
Research undertaken by the Bridge Group for not-for-profit membership body Progress Together, revealed that the proportion of those working in senior roles in UK financial services from a lower socio-economic background (SEB) has increased from 26% in 2023, to 28%.
Response rates to the key questions on SEB from the sector have also risen significantly, with the average proportion of employees submitting socio-economic data having increased from 49% in 2023, to 58%.
Although these findings show a positive improvement on last year’s data report, Shaping our Economy, there is still more work to be to be done in the sector; this year’s report reveals that levels of socio-economic diversity reduce as seniority increases, with 58% of those at senior levels being from a higher SEB, compared with 45% at junior levels.
In the largest study into socio-economic diversity and progression in financial services ever undertaken, this year’s study includes data from 200,000 employees.