Female Citigroup employees earn nearly 30 percent less than their male counterparts, according to a new report from the lender that pushes gender-pay gaps back into the spotlight as a record number of women enter the 2020 presidential campaign.
New York-based Citi, which conducted the study on a voluntary basis, found that its median pay for women is just 71 percent of the median for men, when not adjusted for factors such as seniority or location. The pay for minority workers is about 93 percent of what their colleagues earn.
“We know we need a comprehensive approach to our diversity initiatives to make the progress we want to see,” Sara Wechter, who heads Citi’s human resources department, wrote in a blog post. “We’re working to continue to increase diversity by focusing on targeted recruitment, development and retention, and improved promotional paths and processes.”
In a 2018 report that was adjusted to compensate for rank and geography, Citi found that women globally were paid roughly the same as men. Pay equity is likely to gain increased scrutiny as more women campaign to unseat an incumbent president, Donald Trump, who has been criticized for comments about both women and minorities.
Sen. Kirsten Gillibrand, D-N.Y., on Tuesday announced the launch of an exploratory committee, a step Sen. Elizabeth Warren, D-Mass., took earlier this month. Rep. Tulsi Gabbard, D-Hawaii, began her campaign on Friday and others, such as Sen. Kamala Harris, D-Calif., are expected to make official announcements soon.
Sen. Bernie Sanders, an independent from Vermont who caucuses with Democrats, and Democratic nominee Hillary Clinton both raised the issue of pay equity during the 2016 election. Sanders, who has been weighing another run, has faced scrutiny over revelations of sexual harassment against women on his campaign staff.
