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Citigroup Says It Will Use Raises To Narrow Pay Gap

NEW YORK (AP) - Citigroup says it will slightly raise pay for women and minorities to close a gap with men and whites.

Citibank - Citigroup
A sign stands in front of a Citibank branch office. (credit: Justin Sullivan/Getty Images)

The big bank says an internal survey shows women get 99 percent as much as men in similar jobs and minorities in the U.S. get 99 percent as much as whites. Those are smaller gaps than in the overall work force.

The bank's head of human resources said Monday it told employees it will raise compensation this year to help close the gaps.

The bank hasn't provided figures on average salaries or said how much the raises will cost.

The executive, Michael Murray, says Citigroup Inc. conducted a survey in the U.S., the U.K. and Germany. He says the company is dedicated to pay equity to attract top talent.

(© Copyright 2018 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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