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JPMorgan women earn 1 percent less
Bloomberg News
Feb. 26, 2018 4:39 pm
JPMorgan Chase said Friday that its female employees earn 99 percent of what male employees make globally, making it the fifth large U.S. bank to disclose an adjusted gender pay gap of around one percent.
People of color employed by the bank earned more than 99 percent of what white workers made, according to an internal note sent to employees.
The company is strongly committed to diversity, said Robin Leopold, head of human resources, adding, 'We know we can always do more, and we will.”
As a growing number of financial organizations reveal whether men and women are compensated equally, they have clustered around 99 percent parity, after adjusting for factors such as job role, seniority and locale.
In addition to Wells Fargo, Bank of America, Citigroup and Bank of New York Mellon, MasterCard last week reported its gender pay gap was around 1 percent.
The numbers stand in stark contrast to the average gender pay gap in the U.S., which has hovered around 20 percent since 2007, according to the National Women's Law Center.
JPMorgan's workforce is about evenly split among men and women, but women remain underrepresented at senior levels.
Men make up 70 percent of executives and 83 percent of corporate directors, according to data from the Bloomberg Financial-Services Gender Equality Index.
Office buildings, including the headquarters of JPMorgan Chase (the black building at center) stand in midtown Manhattan in this aerial photograph taken over New York on July 7, 2010. MUST CREDIT: Bloomberg photo by Daniel Acker.

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