Pay Gap Transparency Creditas December/2024
Sao Paulo, 28 March 2025
Creditas reaffirms its commitment to transparency and gender equality by presenting its 3rd Pay Gap Transparency Report for 2024. This document analyzes the gender pay gap, highlighting progress, challenges, and the actions implemented and planned to drive gender equity within the company.
With 12 years of experience, Latin America’s largest online credit platform has diversity and inclusion at its core. Currently, women comprise more than 61% of our workforce and hold 54% of leadership positions, reflecting our commitment to representation. We recognize that this is a structural and ongoing challenge, but it is also a fundamental pillar in combating complacency and the status quo - a purpose that guides our daily operation.
To ensure the implementation of fair pay policies, the following analysis compares the salaries of men and women at Creditas Brazil in 2024, segmented by legal entities (CNPJs) and hierarchical levels. This approach helps identify opportunities for improvement across different sectors and ensures a more accurate comparison between equivalent roles and responsibilities.
The analysis uses the median salary from 2023 and 2024, considering salary distribution and the number of professionals in each position. The data has been processed in an aggregated manner, ensuring anonymity and compliance with the Brazilian General Data Protection Law (Law No. 13.709/2018).
Note: "N/A" indicates groupings with insufficient sampling for analysis.
In 2024, women at Creditas earned, on average, 3% less than men in equivalent roles - compared to the Brazilian average of 19%, according to research by Getúlio Vargas Foundation (FGV).
As a result, our pay gap index reached 97%, a 1 percentage point decrease from 2023. Although this scenario approaches pay equity, we acknowledge the need for continued and dedicated effort.. We remain committed to advancing and sustaining equal pay between men and women by identifying opportunities and achieving non-negotiable milestones.
At Creditas Tech, we are continuously working to increase female representation in senior leadership roles, particularly at the "Executive I" level, encompassing Directors, Heads, and equivalent positions. Consequently, women represented 40% of this level in 2024. Female representation was also prominent at the “Professional Management III” level (early and mid-management), where women hold over 60% of positions.
Despite the progress, there are still opportunities to enhance our efforts in retaining and developing all women, especially within the "Professional I" group (Junior to Mid-Level). This includes implementing training and career growth programs to ensure career development at all seniority levels.
At Creditas Fintech, a key highlight is the “Executive II” level (Vice Presidency), where we achieved an ideal 100% pay gap index. This result reflects strong female representation in executive leadership and demonstrates that pay equity is already a reality in the company's highest positions. In a still-rare market scenario, this progress reinforces our commitment to diversity while also inspiring change within the sector, where gender parity in senior leadership remains a challenge.
On the other hand, at the "Management II" level (early and mid-management), a 23 percentage point drop in the pay gap index was observed. This outcome was driven by a decrease in female representation within this group, as in 2024, most promotions to the next hierarchical level (Manager) were filled by women from this group, who accounted for 66% of management promotions.
This movement highlights the effectiveness of our career development tools. One example is the "Career X-Ray", launched in 2024, which provides a detailed view of professional trajectories and growth opportunities within the company. Supported by this and other initiatives, Creditas continues to strengthen an environment of development and equal opportunities for all.
The main challenges at Creditas Fintech in 2024 involve the departure of women from the "Executive I" group (professionals in Director, Head, and equivalent positions). At this level, we face a common market challenge: the difficulty in accelerating the hiring of qualified professionals, regardless of gender. We are committed to reversing this situation through strategies focused on retaining and attracting diverse talent.
Thus, our commitment to pay and opportunity equality is reflected in various initiatives, including (1) affirmative job openings for underrepresented groups and (2) the implementation of a salary offer calculator to reduce biases in the external hiring process and in merit-based and internal promotion proposals.
Additionally, to ensure continuous development, we promote (3) training on unconscious biases, diversity, and culture throughout the entire journey at Creditas; (4) structured career plans, supported by internal tools such as "Job Design," "Career and Development Playbook," and "Career X-Ray"; along with (5) content and training platforms to drive both technical and behavioral team growth.
We have also adopted (6) a recognition algorithm to support decision-making and minimize biases in promotions, merit increases, and job movements. Finally, we have strengthened our retention and support policies with (7) extended parental leave (180 days for women and 35 days for men) and (8) the inclusion of these leave days as worked time in the Profit Sharing Program (PPR) calculation.
Aligned with our commitments, this plan meets the requirements of the Law No. 14.611/2023 from Brazil, reaffirming our commitment to fairness and equity in the corporate environment.
Definitions:
- Scope of the analysis: Our analysis covers all companies within the Creditas Group and active employees in 2024.
- Median salaries: We consider the median salary of men and women in 2024. The median salary represents the exact value that divides a wage distribution into two halves, avoiding the impact of outlier values on the analysis.
- Creditas Group Companies: The analysis is segmented based on the companies that make up the Creditas group, which coincide with our sectors of operation:
- Creditas Financial Solutions (Fintech): operating as a financial company
- Creditas Technology (Creditas Tech): operating as a technology company (system development)
- Minuto Seguros (Insurance): operating as an insurance broker
- Nomenclature of hierarchical levels:
- Entry: Professionals at levels of Apprentice, Internship, Assistants, and Trainees
- Professional I: Professionals in Junior and Mid-level positions
- Professional II: Professionals in Senior-level positions
- Professional III: Professionals in the specialist career (e.g., Staff, Principal, Specialist)
- Management I, II, and III: Professionals at initial and mid-management levels
- Executive I: Professionals in roles such as Directors, Heads, and equivalents
- Executive II: Professionals in Vice-Presidential roles
- C-Level: Professionals in C-level positions
In compliance with Law No. 14.611/2023 from Brazil, we also attach in our investor relations website the Transparency and Wage Equality Reports for Women and Men generated by the Ministry of Labor and Employment in Brazil for the active Creditas companies in 2024 (Creditas Financial Solutions; Minuto Seguros and Creditas Technology), based on data reported and segmented by the Brazilian Classification of Occupations (CBO), a system that broadly organizes and classifies existing professions in Brazil.
