Citigroup reveals its female employees earn 29% less than its male ones
Among its US employees, people of colour also earn 7% less than their white colleagues
New York — Citigroup offered an uncharacteristically blunt assessment of the pay gap between men and women in its global workforce on Wednesday, revealing that female employees earn 29% less than its men do. The disclosure — a comparison of median total compensation — offers a more complete picture of pay, compared with the figures Citigroup and other big banks released last year under pressure from shareholders in the US and regulators in the UK. The bank also reported that, among its US employees, people of colour earn 7% less than their white colleagues. “The numbers are difficult,” said Sara Wechter, Citigroup’s global head of human resources. “We should obviously be at 100 % parity, and that’s what we’re striving for.” The gap reflects a company that’s mostly male at the highest levels. Women make up more than half of Citigroup’s workforce, but only 37% of employees at the assistant VP level through the MD level. Over the years, banks have lost black executives. In 2017, Citigr...
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