Citigroup Inc. disclosed in its yearly pay equity review that while on an adjusted basis women are paid on average 99% of what men are paid at Citi offices worldwide, median pay for women globally is 71% of the median for men, according to a blog post.
The report revealed that there were no statistically significant differences between what U.S. minorities earned in comparison to the non-minorities at Citi. However, in terms of unadjusted or "raw" pay gap in this group, the median pay for U.S. minorities is 93% of the median for non-minorities. "Raw" pay gap measures the difference in median total compensation without adjusting for factors such as job function, level and geography.
Citi plans to increase representation at the assistant vice president through managing director levels to at least 40% for women globally and 8% for Black employees in the U.S. by the end of 2021.
In the blog post, Sara Wechter, head of human resources at Citi, noted that the company was included among the leading companies selected for the 2019 Bloomberg Gender-Equality Index.
She also noted that 50% of all employees at Citi globally are reportedly women and more than 45% of the U.S. workforce belong to minority groups.