Trailblazer PACESETTER Late Bloomer

Citigroup, a multinational commercial bank and financial services corporation, has been ranked as a PACESETTER on the Women’s Power and Influence Index.

Citigroup has achieved pay equity and pay parity, partnering with a women-owned third party dedicated to advancing equality in the workplace. Initiatives such as the Citi Women’s Leadership Development Program and Role-Based Assessment Program focus on networking and coaching diverse women leaders.

The latest data from 2022 shows women make up 52% of the workforce at Citigroup and about 42% of the leadership positions are held by women.

Sufficient information including Citigroup’s subsidized childcare information, harassment and discrimination training, and women’s mentorship criteria could not be found.

Review the comprehensive WPI criteria and methodology.

✓ Does the company demonstrate a clear and transparent commitment to equal pay? 

“We continue to disclose our adjusted and unadjusted (or “raw”) pay gaps for both women and U.S. minorities to hold ourselves accountable for making progress. Being transparent about our median pay helped us achieve our firm-wide, aspirational representation goals in 2021. By increasing representation of women and U.S. minorities in higher-compensated roles, we can continue to work toward closing the raw pay gaps.”

Ref: Pg 6, Citi DEI Report 2021

“Citi collaborated with The Female Quotient, a women-owned business dedicated to advancing equality in the workplace, to develop a free digital tool that provides companies with a snapshot of their raw pay gap. We view it as a way to further equity across all types of companies and see it as a concrete measure to increase diversity more broadly.”

Ref: Pg 7, Citi DEI Report 2021

✓ Does the company perform an annual analysis of gender pay equity and pay disparities? 

“Citi’s 2021 raw gap analysis showed that the median pay for women globally is 74% of the median for men, similar to 2020 and up from 73% in 2019 and 71% in 2018; the median pay for U.S. minorities was more than 96% of the median for non-minorities, which is up from just under 94% in 2020, 94% in 2019 and 93% in 2018. Continuing to reduce our raw pay gap requires that we increase representation of women and U.S. minorities in senior roles across the firm.

These pay equity reviews represent a “moment in time” snapshot of our employee base, which is constantly changing as people come in and out of the firm, as colleagues are promoted and as market dynamics change.”

Ref: Pg 7, Citi DEI Report 2021

✓ Do female employees earn at least 95% of what their male counterparts earn?

“Our latest results, released in early 2022, found that, on an adjusted basis, women globally are paid on average more than 99% of what men are paid at Citi, and that there was no statistically significant difference in adjusted compensation for U.S. minorities and non-minorities. Following the review, appropriate pay adjustments were made as part of Citi’s 2021 compensation cycle.”

Ref: Pg 6, Citi DEI Report 2021

✓ Does the company demonstrate a commitment to actively attracting, retaining, and/or promoting women within the organization? 

In 2018, we set aspirational representation goals to increase women leadership globally and Black leadership in the United States at the firm by the end of 2021. We are pleased to share that Citi exceeded

these goals. Globally, we increased representation at the Assistant Vice President to Managing Director levels for women to 40.6% (up from 37% in 2018), and in the United States, we increased Black representation for those same job levels to 8.1% (up from 6% in 2018).

Ref: Pg 7, Citi DEI Report 2021

✓ Does the company provide professional development programs designed specifically for female employees? 

We provide a range of internal development and rotational programs for leaders at all levels, and we continue to evolve our learning programs to meet new needs. Our Citi Women’s Leadership Development Program was held remotely in 2021, bringing together a group of Senior Vice Presidents and Directors from around the world to network and develop leadership skills.

Ref: Pg 11, Citigroup DEI Report 2021

✓ Does the company provide professional development programs designed specifically for diverse employees?

Our Role-Based Assessment Program, meanwhile, focuses on building a robust succession plan for our Black and women leaders. The career development program includes executive assessment and coaching. In 2021, 31 high-performing Black and women Managing Directors and Directors were selected for the program.

Ref: Pg 11, Citigroup DEI Report 2021

✘ Does the company offer a formal mentoring program to support the career advancement of all female employees? 

✓ Does the company offer a formal mentoring program to support the career advancement of diverse employees?  

And in Europe, for our “reverse mentoring” program, we paired senior leaders from the region with junior mentors from the LGBTQ+ community. The goal of the program, which was subsequently rolled out in Latin America, Asia Pacific and the United States, was to educate the mentees about the lived experience of their LGBTQ+ colleagues.

(confirm this)

Ref: Pg 11, Citigroup DEI Report 2021

✓ Does the company have policies and programs in place to actively recruit female candidates?

In 2021, we expanded the use of diverse slates in our recruiting to have at least two women and/or U.S. minorities in our interviews for U.S. hires and at least two women in our interviews for global hires. These include candidates at various senior levels, from Assistant Vice President to Managing Director. As of December, nearly 75% of roles that were posted globally included a diverse slate of candidates with at least two women and/or two U.S. minorities. In 2021, we launched a Diversity Sourcing team in the United States to consistently identify diverse talent in the marketplace and accelerate our hiring of diverse talent.

Ref: Pg 9, Citigroup DEI Report 2021

✓ Does the company have policies and programs in place to actively recruit diverse candidates? 

In 2021, we expanded the use of diverse slates in our recruiting to have at least two women and/or U.S. minorities in our interviews for U.S. hires and at least two women in our interviews for global hires. These include candidates at various senior levels, from Assistant Vice President to Managing Director. As of December, nearly 75% of roles that were posted globally included a diverse slate of candidates with at least two women and/or two U.S. minorities. In 2021, we launched a Diversity Sourcing team in the United States to consistently identify diverse talent in the marketplace and accelerate our hiring of diverse talent.

Ref: Pg 9, Citigroup DEI Report 2021

✓ Does the company demonstrate a commitment to providing support and/or time off for women with children?

“Citi is committed to supporting all families — those just starting out, those preparing for an empty nest and everything in between. Wherever you are in your parenting journey, family challenges can feel overwhelming at times. Citi offers many programs and resources to help make parenting and caregiving easier — while also helping you take care of yourself, too!

With all you’re juggling as a parent or caregiver, it’s essential to invest in your own well-being so that you’re ready to handle each day with strength and resilience. In fact, we believe self-care forms the foundation of successful parenting and caregiving.”

Ref: https://www.citibenefits.com/Work-or-Life/Family-and-Educational-Support

✓ Does the company provide child care support for employees?  

“Citi offers a variety of family support resources for all ages through Bright Horizons. Whether you need help with child care, are looking for ways to supplement your child’s learning or need guidance on how to support a child with special needs, Bright Horizons can help.”

Ref: https://www.citibenefits.com/Work-or-Life/Family-and-Educational-Support

✘ Does the company offer subsidized child care?

Information regarding this criterion was unavailable or incomplete.

✓Does the company offer paid maternity leave for birthing parents?

“Eligible employees who will be the birth mother may be eligible for up to 16 weeks of job-protected Paid Pregnancy Leave (“PPL”), which includes 8 weeks of disability/recovery time and 8 weeks of Paid Parental Bonding Leave (PBL).

PPL must be taken consecutively. It runs concurrently with and is counted toward any leave entitlement under the FML Policy and applicable law. The disability/recovery component of PPL begins as of the date the child is born.”

Ref: https://www.citibenefits.com/Work-or-Life/Time-Away

✓Does the company provide paid parental leave that extends beyond birthing parents to include surrogacy, adoption, and paternity leave?

“Paid Parental Bonding Leave (PBL):

If not otherwise eligible for PPL, eligible employees who will be parents in connection with the birth or adoption (including foster care placement for the purpose of adoption) of a child may be eligible for up to 8 weeks of job-protected Paid Parental Bonding Leave (“PBL”) to care for or bond with that child.

PBL must be taken consecutively. It runs concurrently with and is counted toward any leave entitlement under the FML Policy and any applicable law. PBL must be taken and concluded no later than 52 weeks after the birth or adoption of the child.”

Ref : https://www.citibenefits.com/Work-or-Life/Time-Away#TimeOffforParents

✓ Does the company demonstrate a commitment to supporting the health benefits of its female employees?

“Infertility treatment > Covered up to a $24,000 per person lifetime medical maximum. The lifetime maximum will be coordinated among all non-HMO/PPO medical options.

> 100%, not subject to deductible, after $45 copay per visit up to the lifetime maximum; precertification required

> Prescriptions covered through CVS Caremark up to a $7,500 lifetime pharmacy maximum per person.”

Ref: Pg 77, Citigroup Benefits 2022

✓ Does the company offer women-specific health benefits for female employees?

“Infertility treatment > Covered up to a $24,000 per person lifetime medical maximum. The lifetime maximum will be coordinated among all non-HMO/PPO medical options.

> 100%, not subject to deductible, after $45 copay per visit up to the lifetime maximum; precertification required

> Prescriptions covered through CVS Caremark up to a $7,500 lifetime pharmacy maximum per person.”

Ref: Pg 77, Citigroup Benefits 2022

✓ Does the company have a policy listing prohibited behaviors, such as harassment and retaliation?

✘ Does the company mandate all employees to undergo harassment and discrimination training?

Information regarding this criterion was unavailable or incomplete.

✓ Does the company have a defined harassment policy that includes promptly addressing reported incidents?

“Abiding by the standards outlined in this Code and related policies is a condition of continued employment with Citi. Violations of law, regulation, rule, or breaches of policy, standard, procedure, or this Code may result in disciplinary action up to and including termination of employment or other relationship with Citi. They may also be reported to regulators and can result in civil or criminal penalties, cancellation or clawback of deferred awards, disqualification from serving in certain capacities, and a permanent bar from employment in the financial services industry”

Ref: Pg 13, Citi Code of Conduct

✓ Does the company demonstrate a commitment to helping external stakeholders address gender equality issues?

“Over the past year, the Citi Foundation invested in programs supporting the economic progress of more than half a million women globally. These investments included more than $11million in programs that primarily or exclusively support women’s financial inclusion, employment and livelihoods. These efforts are expanding our understanding of the needs of women as microfinance clients, entrepreneurs, students, and are also providing them with the financial resources and services they need to build more stable future for themselves and for their families while contributing to the economic growth of their countries.”

Ref: https://www.citigroup.com/global/news/perspective/2016/advancing-the-economic-progress-of-women

✓ Does the company offer and support initiatives that promote gender equality in the community?

✓ Does the company demonstrate a commitment to helping internal stakeholders/employees address gender equality issues?

“The UN Sustainable Development Goals (SDGs) are a comprehensive set of interrelated goals that aim to address development challenges to end poverty, protect the planet and ensure prosperity for all. The work we are doing around gender equality in the workplace, including our representation goals, directly contribute to SDG 5 in support of gender equality and empowering all women and girls. Specifically, we are enabling progress toward target 5.5, which aims to ensure women’s full and effective participation and equal opportunities for leadership at all levels of decision-making in political, economic and public life.”

Ref: Pg 7, Citi DEI Report 2021

✓ Does the company offer equity-focused trainings, speaker programs, or events for employees?

“In 2021, we held our first ever “Voice of the People” listening tour to help us understand what our Affinities mean to our colleagues. More than 800 Citi employees attended in-person and virtual sessions to share their views on our Affinity Networks and to offer ideas about what we can do to make them more impactful. More than 80% of participants said they joined one of the Affinities for networking opportunities. Goal Learn about the DEI issues that are most important to you”

Ref: Pg 19, Citi DEI Report 2021

*Our Index utilizes binary measurements, where ✓ represents a score of 1, and ✘ represents a score of 0.

*All links are valid as of April 2024