Snapshot as of 5th April 2025
Introduction
Premium Credit Limited (PCL) employs approximately 610 colleagues across the UK and Ireland and operates a hybrid working model that combines remote working with onsite collaboration. Our offices are based in Leatherhead and London in the UK, and Dublin in Ireland. This approach provides flexibility for colleagues and supports the balance between work and family commitments.
Our guiding principles are centred on fairness, equal opportunity and inclusion. We aim to create an environment where diversity of thought is encouraged, and where different perspectives are welcomed and valued, regardless of background.
In 2025, PCL achieved Great Place to Work accreditation, with a response rate of almost 80%. Of those who participated, 92% agreed that people at PCL are treated fairly regardless of gender, and 85% agreed with the statement “I can be myself here”.
During 2024/25, we delivered an Inclusive Leadership Programme that included Dignity at Work training for all colleagues and inclusive leadership training for all people managers, with a focus on preventing harassment of any kind. This training is now embedded within our induction programme for all new colleagues.
Over the last 12 months, our continued focus on inclusion has included:
PCL has nine Employee Resource Groups and a Diversity, Equity & Inclusion Council, soon to be renamed the Inclusion Council to reflect our focus on inclusivity and accessibility for all. These groups provide valuable input into our policies and practices and help build awareness and allyship across the organisation.
We are also a sponsor of the Insurance Cultural Awareness Network (iCAN). Through this partnership we attend industry events, learn from peer organisations, and, in the last year, worked with the British Insurance Brokers’ Association to support young people from lower socio economic backgrounds through work experience opportunities.
We continue to be signatories to the ABI Flexible Working Charter, with all roles advertised as open to part-time and job share arrangements. This reflects our commitment to inclusiveness and is supported by our flexible working policy, which is published on our intranet to promote transparency.
Our 2025 Gender Pay Gap report, as detailed in subsequent pages, sets out the difference between the average earnings of male and female employees, regardless of role or seniority. It also shows differences in the average bonuses earned, the proportion of males and females receiving a bonus, and the distribution of men and women across each pay quartile of our workforce. For both pay and bonus, the report presents the mean and median gender pay gap.
The mean gender pay gap is calculated by adding together all employee pay and dividing by the total number of employees. This figure can be influenced by a small number of highly paid individuals. The median represents the midpoint when all earnings are ordered from lowest to highest and is often a better indicator where there is a wide range of pay.
It is important to note that the Government Equalities Office defines the gender pay gap as the difference between average hourly earnings (excluding overtime) of men and women, expressed as a proportion of men’s average hourly earnings. This measure reflects pay across all roles at Premium Credit Limited and does not indicate unequal pay for the same work.
The data in this report reflects the gender pay gap for Premium Credit Limited for 2025, calculated in line with statutory requirements, using the snapshot date of 5 April 2025.
In accordance with the Equality Act 2010 (Gender Pay Gap Information) Regulations 2017, we publish our gender pay gap report annually.
Key Statistics
We are pleased that our workforce is broadly balanced between males and females, with women representing 57.5% of colleagues. Of our total workforce, 14.8% work part‑time, and approximately 90% of these colleagues are female, reflecting the availability and take‑up of flexible working arrangements across the organisation.
As at 5 April 2025, female representation across the organisation has improved overall. Representation at manager level remains strong, although it has reduced slightly compared to the previous year. At Executive level, an addition of a male to the team, has had a noticeable impact on proportional representation.
In 2025, we observed a small increase in our gender pay gap compared to 2024. The mean gender pay gap increased by 3.4 percentage points, while the median gender pay gap increased by 2.2 percentage points to 41.0%.
This means that the median hourly earnings of female employees (excluding overtime) are 41.0% lower than those of male employees across the organisation, equating to 59p earned by the average female colleague for every £1 earned by the average male colleague.
The slight widening of the gender pay gap reflects changes in the distribution of roles rather than overall workforce balance. During 2025, we recruited 123 new colleagues, with women accounting for 54.5% of all new hires. However, 58% of female recruits were appointed into entry‑level roles, compared with 45% of male recruits, increasing female representation in lower‑paid roles and influencing median pay outcomes.
Encouragingly, female representation within the upper‑middle pay quartile improved during the year, contributing to a reduction in the median gap within that quartile and supporting longer‑term progress.
We remain confident that the Company pays equal pay for equal work. This is evidenced by a 0% median pay gap in the two lower pay quartiles and continued improvement within the two upper quartiles. We recognise, however, that increasing female representation in senior Technology and Sales roles in particular would have a positive impact on our overall gender pay position, and this remains a key area of focus.
Gender Split
The charts show the gender split within four equal quartiles, produced when hourly rate of pay is placed from lowest to highest. The charts also provide the median gender pay gap within each quartile.
While pay parity exists in the lower two quartiles, a gender pay gap remains in the upper‑middle and upper quartiles. Encouragingly, the gap in the upper‑middle quartile has reduced significantly year‑on‑year, alongside increased female representation. This progress is consistent with our focus on supporting the development and progression of women within the organisation, and this will remain a key area of focus.
Gender Bonus Gap
The gender bonus gap measures the difference between the average bonus payments received by men and women across the organisation. Based on all bonuses paid in the reporting year, both the mean and median gender bonus gaps have reduced compared with last year. The median bonus gap decreased by 1.8 percentage points, while the mean bonus gap reduced by 2.8 percentage points.
A higher proportion of women (24.6%) work part time within the organisation. As bonus payments are pro rated for part time roles, this continues to impact both the median and mean gender bonus gap.
We recognise that there is further work to do to maintain a low gender bonus gap and will continue to focus on supporting the progression of women into more senior roles.
An all company bonus scheme operates across the organisation, with eligibility open to all colleagues regardless of grade or position. However, in line with scheme rules, bonus payments may not be made in certain circumstances, including short tenure, salary sacrifice arrangements, performance outcomes or non compliance. Employees who join after 30 September are not eligible to receive a bonus payment for that year.
During October, November and December 2024, we recruited 29 new colleagues who were therefore not eligible for a bonus payment in 2025. This has impacted the proportion of employees receiving a bonus during the reporting year and, consequently, the overall bonus gap outcomes.
2026 - Key Actions
We remain committed to improving gender balance across our organisation and to reducing our gender pay gap. Our actions focus on supporting progression, addressing structural barriers, and ensuring fair and inclusive processes across the employee lifecycle, with the support of our Gender Balance Network. Our hybrid working model continues to enable flexible working, supporting colleagues to balance work and home lives.
Key actions planned for 2026 include:
We remain committed to transparency and continuous improvement.
 |
Tara Waite
CEO, Premium Credit Limited
17 February 2026
