Giant U.S. bank reveals 29 percent pay gap between men and women

By Ellen Wulfhorst, January 16, 2019

NEW YORK (Thomson Reuters Foundation) - Female employees at Citigroup Inc around the world are paid just 71 percent of what men earn, the giant bank said on Wednesday, declaring its intentions to close its gender pay gap.

A Citigroup shareholder group that sought data on the pay gap said the bank is the first U.S. company to disclose such figures.

The U.S.-based bank employs more than 200,000 people in more than 100 countries, and more than half those employees are female, it said.

Tackling the 29 percent gap means increasing the number of women in senior and higher-paying roles, promoting women to at least 40 percent of assistant vice president through managing director jobs, Citigroup said in a statement.

Citigroup said it disclosed the data in response to a shareholder proposal from Arjuna Capital, an investment management firm.

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