Pay transparency will transform the financial sector: new EU directive targets the gender pay gap

By June 7, 2026, Poland must implement EU Directive 2023/970 on pay transparency, which will introduce obligations to publish salary ranges, report the gender pay gap, and provide employees with access to information on pay for comparable positions. For the financial sector, this represents one of the most significant systemic changes in recent years and a real confrontation with the issue of pay inequality.
The scale of the challenge: pay gap in numbers

Although some market segments still perceive salaries as relatively equal, data tells a different story. According to the Women in Finance 2025 report conducted by Antal in cooperation with CFA Society Poland, Bank BPH, and the Chamber of Fund and Asset Managers (IZFiA), 82% of men believe that women and men receive comparable pay for equivalent positions. However, only 34% of women share this opinion. Moreover, 38% of female respondents notice an increase in pay inequality, while only 7% of men perceive this issue.

These differences in perception are reflected in market data. According to the Nationwide Salary Survey by Sedlak & Sedlak, women in managerial positions in Poland earn on average 25% less than men. In boards of directors and supervisory boards, the gap reaches as much as 44%. This means that a woman in a managerial role—with the same responsibilities and competencies—statistically “earns her salary” only until September, and works the remaining months of the year for a wage lower than her male counterpart.

Undervaluation of women’s pay is one of the most frequently cited aspects of gender inequality. This is a global issue, and the most commonly cited contributing factors include lower female participation in professional life—linked to unequal distribution of household and caregiving responsibilities, higher representation of women in lower-paid specializations, discrimination or weaker negotiation skills, and lack of salary transparency - says Małgorzata Rusewicz, president of IZFiA.

Ending salary opacity in recruitment

The directive introduces the principle of transparency. Employers will be required to publish salary ranges in job advertisements or provide them to candidates no later than before signing an employment contract. They will also be prohibited from asking candidates about their previous earnings, aiming to limit the perpetuation of historical pay inequalities. Employees will gain the right to information about average salaries for the same work or work of equal value—broken down by gender. Companies employing more than 100 employees will need to report the gender pay gap periodically and implement corrective actions if it exceeds 5%.

Implementation of the directive will force employers to thoroughly review their compensation policies, including rules for awarding bonuses and incentives, which often form a significant part of total remuneration. Pay transparency may reveal discrepancies that have remained hidden for years. In many organizations, this will require not only data analysis but, if necessary, adjustments to salaries, says Artur Skiba, president of Antal.

Transparency can boost women’s representation in decision-making roles

Pay transparency can help increase equal opportunities for career development. According to the Women in Finance study, only 36% of women in the financial sector feel they have easy career growth opportunities, compared to 47% of men. At the same time, only 16% of women see themselves as playing a strategic role within their organization, highlighting the limited representation of women in key positions. Greater transparency can help eliminate structural barriers and increase employee trust in their organizations.

Inequality in career opportunities and persistent gender stereotypes are among the main causes of pay differences, which—unfortunately—are also visible in the financial sector. The need to level the playing field has been discussed for years, yet the problem remains relevant. Meanwhile, pay equality within organizations not only supports women’s professional growth but also contributes to higher efficiency and competitiveness of companies and, in a broader perspective, to the development of the entire economy - says Beata Sax, CFA, vice president of Investors TFI and CFA Society Poland, and member of the board of the Chamber of Fund and Asset Managers (IZFiA).

The financial sector faces the largest change in years

In the long term, implementation of the directive may not only reduce the gender pay gap but also increase organizational competitiveness and strengthen the position of women in the financial sector. Managers will play a key role in this process.

It is crucial for leaders to be well-prepared to implement the new regulations. Managers influence the salary levels of their team members, though they cannot set them entirely freely—they are bound by specific budget frameworks, rules, and company policies. It is therefore essential that they are well-prepared, able to fairly assess team performance, and conduct salary discussions in an open and trust-building manner. A sense of unfairness in this area is one of the most common sources of employee dissatisfaction, so transparent communication, clear explanation of decisions, and consistent managerial actions are particularly important - says Agnieszka Bukowska, head of HR and services at Bank BPH.