Citigroup female employees earn 27% less than men

Citigroup female employees earn 27% less than men

(Reuters) – Citigroup’s (C.N) female employees earn 27% less than male employees on average, when factors like title and location are not taken into account, the Wall Street bank said on Wednesday.

That was a slight improvement of two percentage points from last year, according to an internal analysis.

In similar job positions in the same location, women on average are paid 99% of what men are paid, on a par with last year’s results, the bank said.

Citigroup began disclosing “raw” pay gap figures globally last year in response to shareholder pressure to disclose how much less it pays women than men.

A British law that went into effect in 2018 forced corporations to disclose unadjusted pay gap figures for their operations in that country annually, but Citi is the only bank that voluntarily discloses the global metrics.

“As we’ve said before, transparency breeds accountability and we took that important first step last year in disclosing our pay equity results,” head of global human resources Sara Wechter said in a statement. “We know the pressure to make progress will continue and we welcome it.”

Source: Reuters

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