Our gender pay gap figures 2023

Landsec Group* 

Landsec Group gender pay gap data 2023
Landsec Group gender pay gap data 2023 proportions

Land Securities Properties Ltd 

Land Securities Properties Ltd gender pay gap data 2023
Land Securities Properties Ltd gender pay gap data 2023 proportions

Snapshot:

  • Our mean gender pay gap reduced from 30.8% in 2022 to 29.1% in 2023
  • Our median gender pay gap reduced from 28.7% to 27.6% over the same period

What's behind these figures?

This slight reduction in the gender pay gap is due to small decreases in female representation in the lower income quartile (-1.3) and lower middle income quartile (-3.2) and slight increase in female representation in the two upper income quartiles.  

This is due to an increase in female representation at executive level with two new female executives, and small increases in female representation within our Senior Leader and Leader populations. 

Although our gender pay gap has improved, our gender bonus gap has returned to similar figures that were reported prior to last year which is in the range of 60%. Last year’s significantly smaller bonus gap was more of an exception, with one female executive receiving a large sign-on and the other benefiting from share schemes vesting that year. We believe the main reason for our large bonus gap is due to the reduction in gender diversity as the job level increases and due to there being a larger proportion of men in property roles which attract higher salaries (and therefore higher bonus outcomes) than our non-property roles.

Find out how we're addressing our pay gaps. 

Percentage of employees receiving a bonus payment in 2022/23

Landsec Group and Land Securities Properties Ltd GPG bonus

Horizontal gender pay gap - Landsec Group

Landsec Group horizontal gender pay gap 2023

Our horizontal pay gaps are voluntary calculations that help us to better understand the pay gap at each level of the business. At our most senior (Executive) and most junior (Support) levels, our gender pay gaps are in favour of women.

Our horizontal gender pay gaps are smaller at Support, Professional and Manager level. The slightly higher gender pay gap in favour of men at Leader and Senior Leader levels is due to occupational segregation: Property roles receive higher remuneration than Group function roles and a higher proportion of those in property roles at these levels are male, compared to the proportion of men in Group function roles.

*After welcoming mixed-use regeneration business U+I into the Landsec Group, you’ll see we’ve included data for Landsec Group and Land Securities Properties Ltd. We have chosen to voluntarily publish pay gap and diversity data for all of our employees who are on one PAYE reference. This includes Land Securities Properties Ltd and U and I Group Ltd and we refer to it as Landsec Group throughout our report.