NEW YORK—Citigroup, in an assessment of its own global workforce, revealed a pay gap between its male and female employees.
The bank reported that female employees earn 29% less than men do, Bloomberg reported.
The bank also reported that, among its U.S. employees, people of color earn 7% less than their white colleagues.
“The numbers are difficult,” Sara Wechter, Citigroup’s global head of human resources, told Bloomberg. “We should obviously be at 100% parity, and that’s what we’re striving for.”
The gap reflects a company that’s mostly male at the highest levels. Women make up more than half of Citigroup’s workforce, but only 37% of employees at the assistant VP level through the managing director level, Bloomberg noted.
“Over the years, banks have lost black executives. In 2017, Citigroup saw a drop in black bankers for the eighth consecutive year. Black workers only make up 1.8% of executive and senior manager positions,” stated Bloomberg citing the news source’s own research.
In an attempt to close the gaps, Citigroup has committed to increasing representation at the assistant VP to managing director levels to at least 40% for women and 8% for black employees in the U.S. by 2021, Bloomberg said.