Corrected - Citi says female employees earn 29 percent less than men
(Reuters) - (This Jan.
(Reuters) - (This Jan. 16 story corrects to include gender pay gap at Citi when accounting for similar positions and geographies)
The median pay for Citi's women employees globally was just 71 percent of the median for men, while that for minorities in the United States was 93 percent of the median for non-minorities, the company said, citing an internal analysis.
However, in similar job positions in the same location, women on average are paid 99 percent of what men are paid, the bank added.
The third largest U.S. bank also said it would hire more women globally and black employees in the United States to senior roles.
By the end of 2021, it wants at least 40 percent of roles at assistant vice president level through to managing director level to be held by women, and 8 percent of such roles in the United States to be held by black employees.
Currently, more than half of Citi employees globally are women and over 45 percent of its U.S. workforce are minorities, the company said.
"We know we need a comprehensive approach to our diversity initiatives to make the progress we want to see," Sara Wechter, head of human resources at Citi, wrote in a blog post http://citi.us/2De3pG8.
Citi, along with other Wall Street banks and financial companies, has been under pressure to disclose how much less it pays women than men.
A 15-year study by the Washington-based Institute for Women's Policy Research found last year that American women earn an average of 39 percent less than men but that this figure rises when taking account of time off for family or childcare.
(Reporting by Diptendu Lahiri in Bengaluru; Editing by Sai Sachin Ravikumar)
This story has not been edited by Firstpost staff and is generated by auto-feed.
By Robin Emmott and John Irish | BRUSSELS/PARIS BRUSSELS/PARIS France and Germany will agree to a U.S. plan for NATO to take a bigger role in the fight against Islamic militants at a meeting with President Donald Trump on Thursday, but insist the move is purely symbolic, four senior European diplomats said.The decision to allow the North Atlantic Treaty Organization to join the coalition against Islamic State in Syria and Iraq follows weeks of pressure on the two allies, who are wary of NATO confronting Russia in Syria and of alienating Arab countries who see NATO as pushing a pro-Western agenda."NATO as an institution will join the coalition," said one senior diplomat involved in the discussions. "The question is whether this just a symbolic gesture to the United States
BEIJING Chinese President Xi Jinping on Wednesday called for greater efforts to make the country's navy a world class one, strong in operations on, below and above the surface, as it steps up its ability to project power far from its shores.China's navy has taken an increasingly prominent role in recent months, with a rising star admiral taking command, its first aircraft carrier sailing around self-ruled Taiwan and a new aircraft carrier launched last month.With President Donald Trump promising a US shipbuilding spree and unnerving Beijing with his unpredictable approach on hot button issues including Taiwan and the South and East China Seas, China is pushing to narrow the gap with the U.S. Navy.Inspecting navy headquarters, Xi said the navy should "aim for the top ranks in the world", the Defence Ministry said in a statement about his visit."Building a strong and modern navy is an important mark of a top ranking global military," the ministry paraphrased Xi as saying.