Citigroup Inc. Becomes First US Company to Disclose its Gender Pay Gap

According to a Citigroup shareholder group, Citigroup—owner of Citibank—is now the first US company that has disclosed its pay gap. A report revealed that the bank's female employees around the world are paid 71 percent of what their male colleagues earn. The 29 percent gap, down from 44 percent last year, is staggering, considering that more than half of the company's 200,000 employees are female and employed in over 100 countries. However, this raw gap doesn't factor in different job functions, levels, and geography. With those factors, the bank claims women are paid an average of 99 percent of what their counterparts earn. Still, Citigroup has vowed its mission to close the raw gender gap by increasing the number of women in senior positions and promoting women to at least 40 percent of upper-level jobs.