Trailblazer Pacesetter LATE BLOOMER
Company Narrative
Mastercard, a payment technology company, has been ranked as a LATE BLOOMER on the Women’s Power and Influence Index.
With its Mastercard Index of Women Entrepreneurs program, Mastercard works to research the progress and barriers of women and their businesses. In addition, Mastercard offers paid parental leave and offers women-specific healthcare benefits, such as assistance with adoption, surrogacy, and fertility.
As of 2021, women make up 41.45% of Mastercard’s workforce, and 37.28% of Mastercard’s leadership positions are held by women.
Mastercard has insufficient information regarding several key Index criteria areas including compensation review to ensure pay parity, women’s recruitment efforts, and the existence of a childcare policy.
Workforce Profile
Equitable Pay
✓ Does the company demonstrate a clear and transparent commitment to equal pay?
“We believe in equal pay for equal work, standing In Solidarity with those left out, embracing our differences to unlock creative possibilities and showing up as our authentic selves.”
Ref: Pg 6, Mastercard Inclusion Report 2021
✘ Does the company perform an annual analysis of gender pay equity and pay disparities?
Information regarding this criterion was unavailable or incomplete.
✓ Do female employees earn at least 95% of what their male counterparts earn?
“Women at Mastercard earn $1.00 to every $1.00 men earn.”
Ref: Pg 28, Mastercard Inclusion Report 2021
Career Growth
✓ Does the company demonstrate a commitment to actively attracting, retaining, and/or promoting women within the organization?
“We aspire to continue increasing diverse representation at all levels, particularly in senior management levels.”
Ref: Pg 53, Mastercard Inclusion Report 2021
✓ Does the company provide professional development programs designed specifically for female employees?
“Women Who Lead accelerates women’s leadership development and the impact of women’s voices across the organization.”
Ref: Pg 28, Mastercard Inclusion Report 2021
✓ Does the company provide professional development programs designed specifically for diverse employees?
“Our Boards for Impact program gives women and Black leaders the opportunity to practice the leadership behaviors required for progression into senior roles. Boards for Impact has trained and placed more than 60 Mastercard leaders for nonprofit boards across the U.S. and U.K.”
Ref: Pg 28,Mastercard Inclusion Report 2021
✓ Does the company offer a formal mentoring program to support the career advancement of all female employees?
“Our women’s mentoring series is open to levels 6 and 7 across the business. • Our mentoring program reached 879 mentees in 55 countries, positively impacting promotion rates and lowering attrition.”
Ref: Pg 28, Mastercard Inclusion Report 2021
✓ Does the company offer a formal mentoring program to support the career advancement of diverse employees?
“To foster and build diverse relationships, we asked Black directors and management committee members to participate in a mutual mentoring pilot. This program aimed to create a reciprocal learning opportunity through mutual storytelling, and the sharing of experiences that inspire personal reflection. We worked with an expert coach to design a curriculum and to guide the pairs. ”
Ref: Pg 24, Mastercard Inclusion Report 2021
✘ Does the company have policies and programs in place to actively recruit female candidates?
Information regarding this criterion was unavailable or incomplete.
✓ Does the company have policies and programs in place to actively recruit diverse candidates?
“Participated in career fairs, student conferences and career readiness programs as part of our ongoing commitment to create equal opportunities for rising Black talent and in increasing representation of Black employees at all levels of our organization.”
Ref: Pg 23, Mastercard Inclusion Report 2021
Work-Life Balance
✓ Does the company demonstrate a commitment to providing support and/or time off for women with children?
“We are committed to supporting our diverse and inclusive workforce across the globe. As part of that commitment, Mastercard offers generous benefit programs that are designed using global standards to ensure the financial, emotional, and medical safety of all our employees and their loved ones.”
Ref: Mastercard Benefits (Website)
✘ Does the company provide child care support for employees?
Information regarding this criterion was unavailable or incomplete.
✘ 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?
“Our global New Parent Leave benefit supports adoption and childbirth for all employees who become parents by adoption or childbirth in all geographies – regardless of gender, sexual orientation, or caregiver status. It provides a global standard of 16 weeks of 100% paid leave and maintains 100% of bonus eligibility during this time.”
Ref: Mastercard Benefits (Website)
✓Does the company provide paid parental leave that extends beyond birthing parents to include surrogacy, adoption, and paternity leave?
“Our global New Parent Leave benefit supports adoption and childbirth for all employees who become parents by adoption or childbirth in all geographies – regardless of gender, sexual orientation, or caregiver status. It provides a global standard of 16 weeks of 100% paid leave and maintains 100% of bonus eligibility during this time.”
Ref: Mastercard Benefits (Website)
✓ Does the company demonstrate a commitment to supporting the health benefits of its female employees?
“At Mastercard, we recognize the diverse needs of our employees when it comes to starting or expanding their families. To support them, we offer financial assistance for adoption, surrogacy, and fertility treatments. Employees can receive financial assistance for adoption and surrogacy, alleviating some of the financial burdens associated with these processes.”
Ref: Mastercard Health Benefit (Website)
✓ Does the company offer women-specific health benefits for female employees?
“At Mastercard, we recognize the diverse needs of our employees when it comes to starting or expanding their families. To support them, we offer financial assistance for adoption, surrogacy, and fertility treatments. Employees can receive financial assistance for adoption and surrogacy, alleviating some of the financial burdens associated with these processes.”
Workplace Standards
✓ Does the company have a policy listing prohibited behaviors, such as harassment and retaliation?
“Our employees and our contingent workforce deserve to be treated fairly, with respect and with dignity. We are committed to providing a safe and healthy workplace that is free from discrimination, harassment and retaliation. We do not tolerate unlawful discrimination, harassment or retaliation by employees or by our suppliers, contingent workers or business partners, including sexual harassment, discrimination based on protected characteristics, degrading or offensive comments or jokes, bullying, violence, intimidation or threats.”
Ref: Mastercard Human Rights Statement (Website)
✓ Does the company mandate all employees to undergo harassment and discrimination training?
“All Mastercard employees receive training on these policies and on our expectations for a culture of decency and respect, as well as trainings on anti-money laundering, trade sanctions, data privacy, information and corporate security and workplace conduct that includes inclusion and diversity. We enforce these policies and standards by providing employees with several avenues to report concerns, including an anonymous reporting option, investigating concerns that we receive and holding individuals accountable for their conduct.”
Ref: Mastercard Human Rights Statement (Website)
✓ Does the company have a defined harassment policy that includes promptly addressing reported incidents?
“Because MasterCard is committed to doing business the right way, violations of our Code and other company policy may result in disciplinary action up to and including termination of employment.”
Ref: Pg 8, Mastercard Code of Conduct
Stakeholder Engagement
✓ Does the company demonstrate a commitment to helping external stakeholders address gender equality issues?
“In pursuit of full gender equity : Our world is full of brilliant possibilities. But they’re not always open to everyone. We’re focused on designing a better world for women because we know that when we do, we create a better world for us all.”
Ref: Pg 27, Mastercard Inclusion Report 2021
✓ Does the company offer and support initiatives that promote gender equality in the community?
• We have introduced Start Path programming geared toward underrepresented new fintech startups led by nonwhite and female founders to help them scale.
• Our Mastercard Index of Women Entrepreneurs offers insights into the enablers and constraints of women’s progress as business owners, across 65 world economies representing 82.4% of the world’s female labor force.
Ref: Pg 29, Mastercard Inclusion Report 2021
✓ Does the company demonstrate a commitment to helping internal stakeholders/employees address gender equality issues?
“In pursuit of full gender equity: Our world is full of brilliant possibilities. But they’re not always open to everyone. We’re focused on designing a better world for women because we know that when we do, we create a better world for us all.”
Ref: Pg 27, Mastercard Inclusion Report 2021
✘ Does the company offer equity-focused trainings, speaker programs, or events for employees?
Information regarding this criterion was unavailable or incomplete.