Banks Aren’t Showing Their Math on Identical 1% Gender Pay Gaps
- Statistics were adjusted for job title, seniority, geography
- ‘The numbers don’t mean everything I need them to mean.’
Arjuna's Lamb Says Pay Gap Issue Is a 'Tipping Point' for Citigroup
Bank of New York Mellon Corp. announced Tuesday that its female employees earn at least 99 percent of what male workers do, making it the fourth big bank to publish its pay gap -- and the fourth to report a slender 1 percent discrepancy. All four said that people of color are also earning 99 percent of what their white colleagues make.
At first glance, that’s significantly better than national calculations suggest. In the U.S. overall, women earned 83 percent of what men made in 2015, according to a Pew Research Center analysis of median hourly earnings of both full- and part-time U.S. workers. For the same year, black Americans’ compensation was about 75 percent of the rate for whites.