Maternity policies in the City

[ForeverYoung21]

Calling all ladies who work in the City....

I am due to begin maternity leave in August before the birth of my first baby and my current employer, a mid sized bank, only offers the statutory minimum in terms of maternity pay. I would be very interested to hear from anyone who works in the banking/financial sector who is willing to share details of their own employer's policy in the hope that I might be able to discuss an improved package at work.

Feel free to PM me if you would prefer details to remain confidential. I will of course use all information provided on an anonymous basis.

Any input would be very much received. Thank you all! x

[DVnewbie]

I know about law firms in the city... Feel free to PM me if you like. Afraid I don't know any (female...) bankers at all (!). Statutory sounds awful for a mid-size bank but I'm not that surprised to be honest.... Good luck!

[motorbird83]

I work for a fund. We get the statutory for the first 6 weeks and then following that we get 65% of pay for another 9 months instead. It was only recently improved though. Before it was just the legal min after the higher paid 6 week period. Good luck!

[amydown]

I work for a Big 4 accountancy firm and we get 16 weeks at 90 per cent pay and then statutory after that. Additional cash benefits continue throughout so for instance, my car allowance which is in cash, gets paid throughout maternity leave in full, as well as medical insurance and pension contributions.

Transparency in maternity pay policies would be great so that we are empowered to take it up with employers as part of package negotiations.

[DVnewbie]

Magic circle law firms are very similar to the big 4 accountancy firms. (Although some make you pay some back if you don't stay for 6 months/1 year after you return from maternity leave)

Mid-sized law firms are typically much less generous although some are better than others. The one I just left had a sliding scale, depending on how long you had worked there. The best was 6 weeks at 90% and then 6 weeks at 75% (then statutory).

I agree - transparency would be very helpful....

[Saila]

I work for a mid-sized financial firm. Women get 4 months full pay, 2 months half pay then nothing if you stay off beyond 6 months (most ppl go back by then). Men get two weeks full pay.

[kemurf]

I used to work for a big American insurer and it was 10 weeks full pay, 16 weeks 1/2 pay. Broker firms were worse and offered the statutory.

I think there was a similar thread a few months back so it might be worth doing a search.

Most companies over a certain size are supposed to have consultation groups. Maybe they could help? Or could just infuriate your company...

http://www.direct.gov.uk/en/employment/employeeinformationandconsultation/dg_10028095

[Strawbs]

Last employer was a financial house and they were stat pay only, current employer (law firm) 6 weeks 90%, 12 weeks 50% then stat x

[sbain]

Hi,

I work at a bulge bracket American investment bank and get 6 months on full pay. I thought this was relatively standard in the city (seems to be what most of my immediate circle got). Although it would seem fairly generous from what others on this thread get.

S.

[slh2009]

Hi, I work at a large bank in the City and also got 6 months full pay, 3 months statutory and 3 months unpaid (still covered by benefits tho). Also thought this was quite standard in the City so realise I was lucky!