Citigroup’s female staff earn 27% less than male staff on average when factors like title and site are not taken into consideration.
That was a slight improvement of two proportion points from 2019, following internal evaluation.
In similar job positions in the same location, women on average are paid 99% of what males are paid, on a par with last year’s outcomes, the bank stated.
Citigroup started disclosing “raw” pay gap figures worldwide in 2019 in response to shareholder stress to disclose how much less it pays women than men.
A British law that went into effect two years ago pressured corporations to reveal unadjusted pay gap figures for their operations in that nation yearly; however, Citi is the one bank that voluntarily discloses the international metrics.
For minorities in the U.S., Citi mentioned the average pay was 94% of the median for non-minorities, up from 93% in 2019.
The third-largest U.S. bank has stated it needs female staff to hold at least 40% of roles at assistant VP level through to managing director position by the end of 2021, with 8% of such roles in the U.S. held by black staff.
Activist funding agency Arjuna Capital lobbied U.S. Wall Street companies to reveal and close gender pay gaps at shareholder meetings in 2019.