Citibank matches pay of women to those of men in same roles

Citibank is bridging its gender pay gap by adjusting the salary of its female staff to match those of their male peers who hold similar positions.
By: | January 20, 2020

Citibank has adjusted the pay of its female staff to match those of their male peers with similar positions and performance in a bid to bridge the gender pay gap at the company.

According to the company’s latest statement, it made pay adjustments as part of this year’s compensation cycle after a review of its global pay last year.

Read: Mind the Gender Pay Gap

Read: Singaporean women earn 6% less than men

The review found that female employees at Citibank earn 1% lesser than their male peers who hold same positions and performed equally well.

“We found that in these locations, on an adjusted basis, women were paid on average 99% of what men were paid,” the bank said.

However, the study also showed that the overall median pay for women globally was 71% of the median for men.

“This was mainly due to differences in gender representation at senior levels of our firm, which reinforces the importance of increasing the representation of women and US minorities in senior and higher-paying roles at Citi.

“We are committed to meet our global goal of having women in Assistant Vice President to Managing Director level roles to at least 40% by 2021,” it added.