At Depop our mission is to make fashion circular, encouraging millions more people to choose secondhand fashion over new. Bringing this mission to life relies on building diverse communities both internally and externally. Internally, it means shaping teams that reflect the diversity and vibrancy of our base of sellers and buyers and the locations we operate in - teams who are equipped to build a marketplace championing unique personal style choices and opening up access to circular fashion, for everyone.
As part of our commitment to creating a truly diverse, inclusive and equitable workplace, we’re pleased to share the results of our annual Gender and Ethnicity Pay Gap report. As in previous years, we’re voluntarily disclosing our ethnicity pay gap data. We believe this is important to further transparency and create a benchmark by which we can measure progress. This year’s report tells us that:
We reduced our median gender pay gap for the second year running. In addition, there is no median ethnicity pay gap at Depop. There was a reduction in representation of both women and underrepresented ethnicities (URE) in the highest pay quartile at the snapshot date, but we’ve made recent appointments to our Executive Team which have increased both female and URE representation in this group since then.
100% of eligible employees received a bonus payment in the reporting period to 4th April 2023*, following the introduction of our company bonus scheme and RSUs last year. We’re therefore confident that eligibility is not impacted by gender or ethnicity. There is an increase in our bonus pay gap this year though, due to lower representation of women and UREs in roles which attract higher bonus pay.
We’ve made progress in closing our pay gap over the last three years, but still have plenty of work to do. The UK GPG methodology is closely linked to representation, so developing and hiring talented people from underrepresented communities into higher paid roles at Depop remains our focus - and something we’re actively doubling down on through targeted talent partnerships, hiring and progression practices, detailed on page 11 of this report.
To further our commitment to fairness in reward, we’ll be conducting our second bi-annual pay equity study later this year. Using an independent third party provider, this study gives us additional insight to ensure our compensation is consistent and fair for similar roles across Depop, regardless of gender or ethnicity.
It’s a culture of inclusion that truly unlocks the potential in a diverse workforce. So whilst we’re making concrete steps towards building a more representative community, we’re committed to also fostering an internal environment where all of our people are empowered to do their best work, and play a unique role in delivering on our mission.
Kruti Patel Goyal, CEO Depop
View the full report
*Any employees not receiving a bonus were new joiners or employees on fixed term contracts who were not eligible for a bonus under the rules of the scheme