Citigroup reports virtually no gap in gender or racial pay

Citigroup says its female employees are paid 99% of what their male coworkers make, but the company says it's working...

Posted: Jan 16, 2018 2:02 PM
Updated: Jan 16, 2018 2:02 PM

Citigroup says its female employees are paid 99% of what their male coworkers make, but the company says it's working to close the pay gap.

Citigroup, which examined pay among all of its approximately 75,000 employees in the U.S., Germany and the U.K., also reported Monday that minorities earn 99% of what non-minorities make.

The disclosure of the gender and racial pay data is the first of its kind for a big U.S. bank, Citigroup said. It takes into account factors such as job function, level and geographic location.

The company said it will give raises this year to help close the gaps for both women and minorities.

The pay disclosure comes after a request from Arjuna Capital, an activist shareholder. Arjuna has been trying to get financial institutions and tech companies to release information on gender and pay.

Arjuna said Monday it was rescinding an upcoming shareholder resolution calling for the pay study.

"This is a tipping point for the Wall Street Banks," Natasha Lamb, managing partner at Arjuna Capital, said in a statement.

Citigroup and other financial institutions had rejected Arjuna's proposal to disclose gender and pay information in the past.

Arjuna is proposing that several other banks report pay disparity data this year.

Related: The link between the gender wage gap and sexual harassment

Corporate America at large sees disparities in diversity among its leaders.

Last year, women made up only about 20% of Fortune 500 board members and 5% of Fortune 500 CEOs, according to Pew Research.

And the women who are executives rarely receive as much compensation as their male counterparts.

Of the 15 highest paid executives in corporate America last year, two were women, according to an analysis by Equilar, an executive and board data provider.

Ariane Hegewisch, study director at the Institute for Women's Policy Research, says that while men and women are receiving nearly equal pay at Citigroup respective to their positions, the analysis didn't address female representation at the company.

"It's important that the company check themselves on those issues of pay, but it also leaves a lot of other factors unsaid," says Hegewisch.

According to a 2016 diversity report, Citigroup's ranks of executive and senior managers in the United States had one black executive, five Hispanic executives, eight Asian executives and 49 white executives.

Related: Iceland makes it illegal to pay women less than men

The gender pay gap is a top of mind issue in business.

A top editor at the BBC, where about 200 women journalists have complained that they're being treated unfairly, recently stepped down to protest pay disparity issues.

In the U.K., where companies with more than 250 employees are required to disclose their gender pay information, the median gender pay gap in financial services is 31%, according to data analytics company Staffmetrix. The survey used information logged by companies on the U.K. government's website.

Amazon reported in March that women make 99.9% of their male coworkers' salaries and minorities made even slightly more than whites.

Salesforce has spent $6 million so far to close its gender pay gap.

Indiana Coronavirus Cases

Data is updated nightly.

Cases: 728811

Reported Deaths: 13405
CountyCasesDeaths
Marion996911740
Lake53548966
Allen40529675
St. Joseph35596550
Hamilton35536408
Elkhart28470441
Tippecanoe22375218
Vanderburgh22293396
Porter18701307
Johnson17923378
Hendricks17199315
Clark12943191
Madison12612339
Vigo12437246
Monroe11873170
LaPorte11856210
Delaware10667186
Howard9895216
Kosciusko9390117
Hancock8260140
Bartholomew8058155
Warrick7777155
Floyd7653178
Wayne7035199
Grant7032174
Boone6687101
Morgan6557139
Dubois6150117
Marshall6016111
Dearborn580077
Cass5794105
Henry5699103
Noble559883
Jackson501172
Shelby490696
Lawrence4522120
Harrison435072
Gibson434792
DeKalb427185
Clinton427053
Montgomery423688
Whitley395239
Huntington390080
Steuben385557
Miami381166
Knox371890
Jasper364747
Putnam359660
Wabash353479
Adams341054
Ripley339170
Jefferson329281
White313554
Daviess296299
Wells291381
Decatur284792
Fayette279562
Greene277885
Posey271333
Scott265653
LaGrange265570
Clay259447
Washington240332
Randolph239781
Spencer232131
Jennings229849
Starke215953
Fountain212046
Sullivan211442
Owen198756
Fulton194840
Jay193630
Carroll188520
Orange182654
Perry182637
Rush173025
Vermillion168843
Franklin167835
Tipton162845
Parke146116
Blackford134632
Pike133734
Pulaski116645
Newton107734
Brown101941
Crawford99514
Benton98514
Martin88615
Warren81815
Switzerland7858
Union71010
Ohio56511
Unassigned0414

Ohio Coronavirus Cases

Data is updated nightly.

Cases: 1082815

Reported Deaths: 19428
CountyCasesDeaths
Franklin1258081400
Cuyahoga1119722115
Hamilton799721205
Montgomery514061014
Summit47145945
Lucas42119788
Butler38338584
Stark32273906
Lorain24997481
Warren24274298
Mahoning21546588
Lake20653369
Clermont19761238
Delaware18512133
Licking16418212
Fairfield16176199
Trumbull16032468
Medina15268264
Greene15063244
Clark13983299
Wood13080189
Portage12839203
Allen11639232
Richland11349199
Miami10670217
Muskingum8803133
Wayne8793211
Columbiana8778229
Pickaway8564121
Marion8523135
Tuscarawas8473244
Erie7888154
Hancock6914127
Ross6846155
Ashtabula6805170
Geauga6686148
Scioto6406101
Belmont5881167
Union570848
Lawrence5549102
Jefferson5525151
Huron5430119
Darke5355123
Sandusky5347120
Seneca5282121
Athens519158
Washington5155109
Auglaize490784
Mercer480385
Shelby469293
Knox4486110
Madison435661
Putnam4278100
Fulton422469
Ashland421789
Defiance419697
Crawford3975107
Brown394157
Logan381676
Preble379598
Clinton372163
Ottawa366679
Highland355062
Williams339275
Champaign331658
Guernsey315653
Jackson312551
Perry294950
Morrow284939
Fayette281950
Hardin270864
Henry268666
Coshocton265257
Holmes2603101
Van Wert243463
Adams237852
Pike237634
Gallia235349
Wyandot231055
Hocking215362
Carroll191547
Paulding172640
Meigs144840
Noble133337
Monroe132042
Morgan108423
Harrison108137
Vinton83115
Unassigned02
Fort Wayne
Cloudy
44° wxIcon
Hi: 44° Lo: 37°
Feels Like: 37°
Angola
Cloudy
46° wxIcon
Hi: 46° Lo: 34°
Feels Like: 41°
Huntington
Cloudy
43° wxIcon
Hi: 44° Lo: 38°
Feels Like: 38°
Decatur
Cloudy
44° wxIcon
Hi: 43° Lo: 38°
Feels Like: 37°
Van Wert
Cloudy
42° wxIcon
Hi: 43° Lo: 33°
Feels Like: 33°
The rain, and snow, that impacted us on Sunday will be long gone on Monday, allowing us to dry out! Unfortunately, the chilly air will hang around.
WFFT Radar
WFFT Temperatures
WFFT National

Community Events