Geneva — Women working in oil trading at Glencore earn 28% less on average than men and received bonuses that were 57% lower. The income disparity, disclosed by the second-biggest independent oil trader under UK government-mandated pay gap reporting, underscores the lack of women in senior roles at the largest commodities trading houses. The vast majority of the 348 employees at Glencore’s London offices work in the firm’s oil trading operations, including the traders themselves and support staff. Women account for about a third of that number, yet comprise only 16% of the top quartile for pay, the figures show. A study of the executive committee members of the top 40 commodity trading houses by Bloomberg News showed that women accounted for just 4.2% of the senior executive roles, a level well below US financial institutions and UK blue-chip companies. The higher level of males seeking careers in commodities trading "has led to a greater number of men than women in senior and other...
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