Penny Petroleum Gender Pay Gap Report for April 2017

Penny Petroleum is not yet required by law to publish an annual gender pay gap report, however we have decided to do so as part of our commitment to equal opportunities.

This is its report for the snapshot date of 5 April 2017.

  • The mean gender pay gap for the Company is 3.37%
  • The median gender pay gap for the Company is 0%.
  • The mean gender bonus gap for the Company is 59%.
  • The median gender bonus gap for the Company is 80%.
  • The proportion of male employees in the Company receiving a bonus is 7% and the proportion of female employees receiving a bonus is 6%.
Pay quartiles by gender
Band Males Females Description
A 50% 50% Includes all employees whose standard hourly rate places them at or below the lower quartile
B 50% 50% Includes all employees whose standard hourly rate places them above the lower quartile but at or below the median
C 16% 84% Includes all employees whose standard hourly rate places them above the median but at or below the upper quartile
D 39% 61% Includes all employees whose standard hourly rate places them above the upper quartile

The figures set out above have been calculated using the standard methodologies used in the Equality Act 2010 (Gender Pay Gap Information) Regulations 2017.

What are the underlying causes of Penny Petroleum’s gender pay gap?

Penny Petroleum does not have a significant gender pay gap. There is a slight predominance of men in senior managerial positions which has created the small gap. There is a gap in bonus payments, however it should be noted that out of a total 296 employees, only 11 females and 8 males actually received bonuses.

The bonus pay gap exists because there were 6 men and only 4 women in the most senior management positions who received the highest bonuses. Whereas the lower bonus earning group (i.e. junior managers) was comprised of 7 women and only 2 men.

Signed: David Penny.