Gender Pay Gap Report 2024
Working towards reducing the gender pay gap in tech
We want to be as transparent as we can on our gender pay gap reporting and how we are working to close this gap.
In this report, we refer to men and women in the way current government guidance asks us to.
2023 was our first year of reporting our gender pay gap because we reached the threshold of 250 employees. We have seen positive improvements and, in 2024, have reduced the gap in our hourly pay.
What is the gender pay gap?
The gender pay gap is the difference in earnings between people who legally identify as men and women.
It’s not the same as paying people differently for the same job, which is illegal under the Equality Act.
The gender pay gap shows an important relationship between how much men and women earn and the roles they hold in an organisation
How a Hippo’s benefits impact the gender pay gap
Calculations of our gender pay gap take into account things like salary sacrifice schemes such as our pension contributions, electric vehicle schemes and other benefits that each Hippo chooses.
These can affect employee salaries in lots of ways and impact measurements of our gender pay gap.
Hourly pay
We don’t pay hourly at Hippo, but hourly pay is one of the key metrics used by the government to compare pay between men and women. We’ve included basic salary, any allowances or regular payments and any bonuses paid in the 12 months up to 5th April 2024.
- This data is from a snapshot date of 5 April 2024.
- 354 Hippos were included, of which 39% were women (down from 43% in 2023).
15% gap
2023: 18%
Change: -3% gap
10% gap
2023: 11%
Change: -1% gap
Quartile pay
To understand more about our gender pay gap, the hourly pay is broken down into quartiles.
These quartiles are made up of Hippo’s who earn the most per hour (upper quartile) through to Hippo’s who earn the least per hour (lower quartile). We then looked at how many men and women were represented in each quartile.
- The results show there are more men than women in the top three quartiles for hourly pay.
- It also shows that there are more women in the lower quartile of hourly pay than men. This pattern was also seen in our 2023 report.
Bonus pay
We do not have contractual bonuses at Hippo. For this data, we used employee referral payments and the cash value of any vouchers given out when Hippo’s reach any length of service milestones.
Our data on bonus pay will likely change year to year because of employee referral payments. Referral payments are paid when Hippos make successful referrals and are not gender specific. In the 2023 period, a woman had received two referral bonuses during the period which impacts the mean figure. In 2024, 2 men had received two referral bonuses in the year, which is the main contributing factor to the large shift in this gap.
0% gap
6.63% gap
42% of women and 44% of men at Hippo received bonus pay.
Other things to consider
- 74% of people in the tech industry are men*
- There have been more men in the tech industry for a long time.
- More men occupy senior positions due to the length of time they’ve had in the industry.
- As more focus is placed on providing opportunities for women to enter tech, we should see more women occupying senior roles.
What we’re doing about it
Tackling the gender pay gap at Hippo is a big part of our Diversity, Inclusion and Belonging strategy.
We’re publishing all our work out in the open on our website. That way everyone can see what we’re doing to try close our gender pay gap.
I can confirm that the information and data in this document is all true from the snapshot date of 5 April 2024.
Lara Longhurst
Chief Operating Officer
