Citigroup plans to boost pay this year to address inequality among female and minority workers
Citigroup (NYSE: C) on Monday said it plans to raise wages this year to address pay inequality among its female and minority workers. In a blog post , Michael Murray, head of Human Resources at Citi, said the bank's pay-equality initiative was launched after a review of its compensation practices. The Citi study found that women employees were paid on average 99 percent of what men were paid, and minorities earn on average 99 percent of what non-minorities were paid. The study was conducted in the United States , the United Kingdom , and Germany , and accounted for factors including job function, level, and geography, Citi said. In the statement, Murray said "appropriate increases to help close the gaps for both women and U.S. minorities" will be made this year. He added: "We will also adjust compensation for other individuals where the analysis determined increases were warranted." Citigroup (NYSE: C) on Monday said it plans to raise wages this year to address pay inequality among its female and minority workers. In a blog post , Michael Murray, head of Human Resources at Citi, said the bank's pay-equality initiative was launched after a review of its compensation practices. The Citi study found that women employees were paid on average 99 percent of what men were paid, and minorities earn on average 99 percent of what non-minorities were paid. The study was conducted in the United States , the United Kingdom , and Germany , and accounted for factors including job function, level, and geography, Citi said. In the statement, Murray said "appropriate increases to help close the gaps for both women and U.S. minorities" will be made this year. He added: "We will also adjust compensation for other individuals where the analysis determined increases were warranted."
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