Citigroup says it pays women 29% less than men in report that the bank's HR chief calls 'difficult'
- Citigroup's female employees earn 29% less than male ones in the latest report about the pay disparity among employees.
- Women make up just 37% of senior positions between the levels of assistant VP to managing director, despite their making up about half of Citi's workforce.
- "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."
Citigroup says female employees make 29% less than male ones across its global workforce, and that women make up fewer senior positions. Equally damning: people of color are paid about 7% less than their white peers.
Women make up just 37% of senior positions between the levels of assistant VP to managing director, despite their making up about half of Citi's workforce.
"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 review focused on three countries making up 36% of its workforce.
It's a sharp contrast to a report Citi released at this time last year suggesting everything was pretty much equal. That analysis, Citi said at the time, "accounted for a number of factors in our analysis to make the comparisons meaningful, including job function, level and geography."
Citi was under pressure at the time to publish its findings from shareholders Arjuna Capital.
Wechter said the disclosure is part of the company's commitment to transparency and to improving diversity. Last summer, Citigroup published a plan to improve gender balance and racial representation in the next three years.