19. February 2020

No gender-based pay gap at the Central Bank

Central Bank of Iceland

There is no gender-based pay gap at the Central Bank of Iceland, according to an appraisal carried out at the end of last year. The Bank was awarded equal pay certification at the beginning of 2019. The equal pay analysis taken that year showed that there was no unexplained wage gap between the sexes at the time.

The analysis from 2017 showed that male employees’ pay was 3.23% higher than female employees’ pay, and that the Bank employed 81 men and 80 women. The Bank set for itself the objective of reducing the gender-based pay gap to below 2.5% by 2019. The analysis from 2019 showed that female employees’ pay was 1.82% higher than male employees’ pay, and that the Bank employed 86 men and 85 women. This small difference is not statistically significant, and the results therefore indicate that there is no unexplained gender-based pay gap at the Bank.

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