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Celebrating 2023
Gender Pay Gap
Ethnicity Pay Gap
FAQs
Savills 2024
Introduction
Hear from Chanelle Gray, Head of Diversity & Inclusion at Savills UK who provides a top line summary of the 2023 gender and ethnicity pay gap reporting.
A message from our Head of Diversity & Inclusion
Why Savills?
How we work
What we do
Where we are
Who we work with
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Our overarching D&I objective is to cultivate a workforce that mirrors the diverse society in which we live. The analysis carried out for the pay gap report helps us to understand how we are performing against our targets and where to focus going forward. Whilst we are proud with the progress made since we began reporting, we remain committed to continuing our journey to close the pay gap and provide an inclusive workplace that celebrates diversity.
Attract, develop, lead
For more information on our D&I strategy click here to go to our dedicated site.
Gender pay gap
introduction
Back to the top
James Sparrow
Chief Executive Officer Savills UK & EMEA
Spotlight on our Allies
We are incredibly proud to showcase our Inclusion Allies programme, an industry leading initiative that supports an inclusive culture. It is not just about educating people on how to be inclusive, but it gives our colleagues the skills and confidence to raise concerns about behaviour in the moment. Our allies promote diversity and inclusion messages within their teams, are there as buddies to new joiners and provide advice or support to anyone who may need it. We shine a spotlight on our allies and hear from some of them on why they decided to take on the role, what inclusion means to them and what difference it has made within the business.
Whether it’s the way we advise our clients or the work we do directly, we always seek to add value while being a force for good – pioneering initiatives that help both people and the planet to thrive.
Climate
Culture
Community
People are at the heart of our business. We aim to create a lasting positive social impact on local communities through the way we engage with them, the work we do and the charitable initiatives we run to support them.
Making a positive impact
ethnicity pay gap
celebrating 2023
We work to minimise our impact on the environment and are committed to reducing our carbon output to net zero by 2040. From reintroducing biodiversity to green retrofits of existing buildings, we strive to create a sustainable future for ourselves and our clients.
The culture ingrained in our business is what sets us apart, guiding the way our people behave to bring you the best possible service.
We listen
We empower
We challenge
We collaborate
Our values
If it matters to you, it matters to us. We put you at the heart of everything we do. We listen to your unique needs and take the time to understand your aspirations, responding with bespoke solutions to help you achieve your goals.
You make the best decisions when you have the right experience and advice at your fingertips. Our experts pioneer new approaches, bringing fresh ideas and informed insights to the table.
Progress comes when we question the status quo. We’re always open and honest with our views, constructively challenging you, and each other, in the pursuit of the best outcome. Your success is our priority.
Trust that you have the right people in the room – not just for the pitch but at every point in your project. We’re always open and honest with our views, constructively challenging you, and each other, in the pursuit of the best outcome. Your success is our priority.
A company is nothing without a strong culture. We actively foster an inclusive workplace – aiming to attract diverse talent, develop and support our people, and always lead by example.
Our gender pay gap
32.17%
Hourly Pay Gap
MEAN
2023
35.42%
2022
39.60%
2021
38.70%
median
40.55%
41.17%
89.12%
Male
81.93%
Female
proportion of employees receiving a bonus
upper quartile
upper middle quartile
lower middle quartile
lower quartile
Proportion of employees in each pay quartile band
74%
26%
51%
49%
31%
69%
30%
70%
74.55%
bonus pay gap
76.70%
77.25%
74.09%
77.78%
77.42%
The data shows our latest gender pay figures for our Savills UK business which comprises Savills (UK) Limited and Savills Management Resources Limited (SMR).
20.11%
23.94%
17.59%
21.76%
82.62%
79.02%
71%
29%
44%
56%
36%
64%
58%
42%
male
female
68.08%
70.42%
31.58%
31.67%
2.05%
4.05%
-9.47%
-11.17%
74.80%
72.55%
61%
39%
60%
40%
14.57%
18.10%
-6.00%
-4.82%
Savills UK Business
Savills (UK) Ltd
Savills Management Resources
Our focus remains on those initiatives which are making the greatest difference to our employees and their progression, providing coaching and support for women at all stages of their career. This includes ongoing participation in the Mentoring Circle, an external networking and training initiative for women in the property sector, helping those at the initial stages of their career to make contacts throughout the sector and receive targeted coaching.
206
women promoted in 2024
24%
of Savills directors are women
50%
of Savills RICS members are women compared to the industry total of 18%
Strength in numbers
26.03%
25.42%
69.96%
7.02%
0.37%
-16.36%
4.62%
-1.85%
The data shows our latest gender pay figures for Savills Management Resources Limited (SMR).
The data shows our latest gender pay figures for Savills (UK) Limited.
Our ethnicity pay gap
gender pay gap
16.29%
15.82%
22.65%
17.79%
16.66%
49.13%
58.50%
56.15%
58.65%
50.00%
85.78%
Any white background
82.82%
Any minority ethnic background
Any white
Any minority ethnic
94%
6%
90%
10%
86%
14%
85%
15%
The table shows our latest Ethnicity pay figures for our Savills UK business which comprises Savills (UK) Limited and Savills Management Resources Limited (SMR). A total of 994 employees across Savills UK Business either have stated that they prefer not to disclose or have not disclosed their ethnicity, and are therefore excluded from the hourly rate numbers.
19.88%
18.72%
24.17%
22.07%
19.39%
20.74%
82.01%
74.85%
92%
8%
83%
17%
79%
21%
58.23%
66.80%
70.91%
62.50%
7.26%
2.59%
6.39%
4.54%
3.95%
9.06%
72.63%
66.20%
81%
19%
76%
82%
18%
15.09%
8.17%
27.35%
4.29%
0%
8.63%
It is important that we continue to listen and support our employees in the right ways. This is key to retention and helping progression into senior roles. In addition to our work to increase the pipeline of ethnic minority talent into the industry and at Savills, we have focused on specific initiatives that will help nurture employees. Specifically, through bespoke training and support around promotions, mentoring and external partnerships like the We Rise In Leadership Training Programme we can ensure ethnic minority employees are encouraged and supported into leadership roles. This is reinforced by highlighting role models within Savills and sharing important religious and cultural moments to educate and engage our colleagues creating an environment where everyone is comfortable to be themselves. All of this has resulted in an increase in proportion of ethnic minority talent across all four of our pay quartiles, particularly within the junior levels.
The table shows our latest Ethnicity pay figures for Savills (UK) Limited.
The table shows our latest Ethnicity pay figures for Savills Management Resources Limited (SMR).
856%
increase in ethnic minority applicants to our graduate scheme programme since 2020
48%
of graduate scheme applicants identified as coming from an ethnic minority background
16.7%
of graduates hired in 2023 were from an ethnic minority background
Frequently asked questions
Why has the mean ethnicity pay gap increased ?
The mean ethnicity pay gap increased slightly from 18.72% in 2022 to 19.88% in 2023. This can be attributed to the higher proportion of minority ethnic employees in the lower and lower middle pay quartiles.
Why is the proportion of minority ethnic employees receiving a bonus lower than colleagues from a White background?
All those employees who are eligible to receive a bonus, in line with the Bonus Scheme Rules, have received one and for those who have not there are specific criteria in the Rules that will support this, for example new joiners after the end of the relevant financial year, leavers, fixed term contractors to name a few.
What is a pay gap report?
Pay gap reporting highlights the difference in average earnings between one group of employees against another group of employees. Currently, gender pay gap reporting is mandatory for employers with more than 250 staff. Savills has voluntarily published its ethnicity pay gap figures for the past four years as it believes in transparency and accountability.
What date range does this pay gap report cover?
The hourly rate data is based on all those employed and receiving pay at the snapshot date of 5 April 2023 and is taken from the April 2023 pay period. The bonus data is for all those employed at 5 April 2023 and is taken from the bonus pay period 1 May 2022 to 30 April 2023.
What legal entities are covered in our reporting?
We report Savills UK Business holistically, and then (as per the Regulations) by distinct legal entity. This reporting best represents the makeup of the Savills UK Business which is managed by our UK leadership team. Employees in Savills Investment Management and Savills Plc are managed by separate management teams and do not report separately as UK employee numbers in these entities are below minimum reporting levels.
What is Savills Management Resources Limited (SMR)?
SMR is our Facilities Management business which is a key part of UK Property Management business, but is a separate legal entity to Savills (UK) Limited. SMR, like the rest of Savills UK, is managed by our UK leadership team and board.
What is the difference between pay gap and equal pay?
The pay gap shows the difference between the average earnings of one group of employees against another. It does not show differences in pay for employees doing equivalent jobs, which are paid equally within Savills regardless of gender or ethnicity.
What is MEDIAN pay gap?
The MEDIAN pay gap compares the midpoint of pay between one group of employees against the midpoint of pay of another group of employees.
Why is Savills publishing its ethnicity pay gap figures?
Savills UK Business has voluntarily published its ethnicity pay gap figures since 2020 to transparently report the progress made on its diversity and inclusivity journey.
What is MEAN pay gap?
The MEAN pay gap compares the average pay between one group of employees against the average pay of another group of employees in the business.
What are pay quartiles?
Pay quartiles show the percentage of employees in four equal sized groups from the lowest to the highest, based on their hourly pay including all pay elements at the snapshot date of 5 April.
What does ‘Other’ mean and why is it included alongside the ethnicity data?
‘Other’ refers to those individuals who do not associate with being in the major ethnic minority groups, or from a White background. As this is a minority group we have included it within our ethnic minority dataset. We do not include those who have not declared their ethnic background or have stated `Prefer not to say’ in our ethnic minority dataset.
How many employees have disclosed their ethnicity data and why is this important?
Capturing ethnicity data is important to establish a baseline against which we can measure progress. Please see below the breakdown of employees who have disclosed their ethnicity data by entity. Ethnicity Data Completion Rates: Savills UK Business: 87.50% Savills (UK) Limited: 96.90% SMR: 72.19% The majority of our SMR colleagues are site based without daily access to our HR systems to declare their data. On this basis, we can only report on the ethnicity pay gaps of the 72.19% of SMR colleagues who have declared their ethnicity. We have a plan to increase this declaration rate, which includes communicating to colleagues about how we use their data, why we request their data and how to input this into our HR system.
Where can I find historical pay gap data?
All of our historical pay gap reports and data can be found on our D&I page, click here.
Creating change, together
Our clients
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Awards
where we are
Recognition we are proud of
Meet the team
who we work with
Financial Time Awards
Leading Management Consultants 2023
Personnel Today Awards
UK Apprenticeship Employer of the Year 2022
Inspiring Women in Property Awards
EDI (Equality, Diversity & Inclusion) Programme of the Year 2023
REFI European Awards
Investment Sales Broker of the Year 2020, 2019, 2018
EG Awards
Global Advisors of the Year 2022
Superbrands UK
Ranked #1 in real estate agents / advisory category for the 16th consecutive year
Property Week Awards
Deal of the Year 2021 - iQ Student
Newsweek North America
Ranked #1 of CRE companies for Savills North America
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