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Citigroup Makes 1% Dent On Gender Wage Gap

Citigroup cut the wage gap between its male and female employees from 27% to 26% from 12 months ago as part of its publicly announced effort to shrink the gender wage gap. So reports Bloomberg.

CitiFor minorities in its U.S. workforce, however, the wage gap with non-minorities over the 12-month span still sits at 6%. “It keeps me up at night because I know it’s a lot of work, but we’ve got to be delivering against these things,” said Sara Wechter, Citigroup head of human resources. “This is going to take years to get right, but if we’re not making progress along the way then it’s going to take longer than years.”

Globally, the banking giant is committed to boosting diversity among its upper management ranks to at least 40% for women by the end of 2021, Wechter noted. It also wants its Black employees to represent 8% of its U.S. workforce by the end of this year.

“Wherever we end the year, we will share it,” Wechter said. “I think that it’s really important that we are constantly showing people the numbers--the improvement, the lack of improvement, whatever it may be--so they can make sure to try to solve for it.”

Read the full article from Bloomberg.

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