Gender pay gaps persist at Wall Street banks in the UK via CNBCMakeIt
div > div.group > p:first-child"> Thursday is the deadline for companies with at least 250 U.K. employees to report gender pay gap information to the British government; U.S. investment banks with a presence in the U.K. are required to do so as well. Studies have shown that measuring and publishing diversity metrics drives improvement — and that more diverse companies perform better — and the U.K.
Moynihan warned against an over-emphasis on median pay gap data, which doesn't take into account gender-based career preferences. These numbers may slide in the wrong direction as banks hire more junior women to improve the pipeline of female employees, say banking insiders. The banks have introduced a number of measures to try to improve gender and ethnic diversity, tying manager pay and promotions to hitting targets, and involving both male and female employees in the process, through training and networking events.
In his annual letter to shareholders on Thursday, JP Morgan CEO Jamie Dimon emphasized the fact that women represent 30 percent of the firm's senior leadership globally — four women who run businesses and functions which on their own would be among Fortune 1000 companies. In his memo, Solomon made clear to managers at Goldman that they will be held accountable for improving diversity metrics and required to consider a diverse set of candidates for MD positions.
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