We’re embedding ownership for diversity throughout our business. Holding ourselves to the highest standards means setting the tone from the top. Senior leaders are accountable for instilling an equitable and inclusive culture. To keep diversity at the center of our decision-making, each Inclusion Network is co-led by a member of the senior leadership team.
Our ten Inclusion Networks include: Asian Heritage, Black Heritage, Citi Salutes® (Military Veterans), Citi Women®, Disabilities, Families, Generations, Hispanic/Latino Heritage, Social Mobility (UK) and Pride (LGBTQ). Each Inclusion Network is responsible for developing a better understanding and appreciation of the uniqueness of each group and coming up with ideas and initiatives to ensure Citi is helping our colleagues grow, develop and matriculate through the firm.
Our Employee Network chapters serve as local representatives of our Inclusion Network. Consistent with our inclusive culture, Employee Network chapters are open to all Citi employees, regardless of whether they identify with a particular Inclusion Network.
We are focused on our hiring practices to ensure that diversity is embraced throughout the process.
As we hire for leadership positions, we continue to leverage diverse slates and interview panels. These processes help us ensure that women globally and/or racial and ethnic minorities in the U.S. are interviewed for these positions and brought on as panel members.
Unconscious Bias Training
A critical aspect to building the right culture is addressing unconscious bias in the workplace, which is an area where we continue to invest and focus.
We developed and launched a training that enables participants to understand the business case for an inclusive work environment, recognize unconscious bias and take actions to improve on-the-job decision making to support Citi's culture of leaderships, ethics and inclusion.
Pay equity is key to hiring and retaining top-tier, diverse talent and rewarding performance consistent with our Leadership Standards. We rely on our people to succeed in the digital era. To foster an equitable culture, we continuously evaluate market conditions and rigorously review pay recommendations across the firm as part of our annual compensation process each year.
In recent years, we’ve expanded on those efforts to assess pay at Citi when comparing women to men and U.S. minorities to non-minorities. Beginning in the United States, the United Kingdom and Germany, we conducted an analysis focusing on a number of factors including job function, job level and geography. We found that women are paid on average 99% of what men are paid, and minorities are paid on average 99% of what non-minorities are paid.
During compensation cycles, we are making appropriate increases to help close the gaps for both women and U.S. minorities.
We will also continue to adjust compensation for other individuals where the analysis determined increases are warranted. We are committed to continuing to review compensation for pay equity and will continue this analysis in all other countries and jurisdictions where our employees work.
Pay equity is an imperative. Data consistently points to a pay gap among men and women, and minorities and non-minorities employees, across industries. At Citi, our continuing focus on pay equity brings us closer to being the employer of choice for individuals of diverse backgrounds.
An Update on our 2022 Pay Equity Results
Citi’s 2022 results found that, on an adjusted basis, women globally are paid on average more than 99% of what men are paid at Citi, and 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 2022 compensation cycle. Citi’s 2022 raw gap analysis showed that the median pay for women globally is more than 77% of the median for men, up from 74% in 2020 and 73% in 2019; the median pay for U.S. minorities was more than 97% of the median for non-minorities, which is up from 96% in 2021, and 94% in 2020 and 2019. By increasing representation of women and U.S. minorities in higher-compensated roles, we can continue to work toward closing the raw pay gaps.
While there’s been progress, we know there is more work to be done, and we continue to evolve our businesses practices to close the pay gap. Some of these efforts include working with our inclusion networks to strengthen our talent pipelines, providing internal mobility opportunities for our colleagues, expanding salary structures and bonus guidelines, and continuing to evaluate our compensation programs globally. We’re committed to driving transparency and industry-leading practices around pay equity, and we’ll continue to disclose our progress annually through our ESG reporting.
How We Work
Citi proudly embraces a culture of flexible work.
Flexibility in how, when and where we work allows all of us to realize personal and business objectives while still having meaningful career opportunities.
Learning and Development
We meet employees where they are and help them succeed.
Learning and career development is a lifelong journey. That’s why Citi employees have access to a range of resources to help them thrive now and in years to come.
Brings together a group of Senior Vice Presidents and Directors from around the world to network and develop leadership skills.
In our Personal Banking & Wealth Management division, we recently piloted a career advocacy program that aims to build stronger advocacy for underrepresented talent by pairing each participant with senior leaders outside of their functional areas to provide career advice and serve as an advocate for that colleague.
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.
This program, within our Institutional Clients Group, was created to increase representation of Black colleagues at senior levels through attraction and retention initiatives at all levels.
In Latin America, our Women’s Virtual Development Program continues to be one of our most valued in the region, with more than 1,600 participants in 2021.
Across Asia Pacific, 780 participants joined one of four programs supporting women as they transition to more senior roles.
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.
Across Asia Pacific, and in partnership with Ernst & Young, we launched a new program called ASCENT focused on providing Senior Vice Presidents with the sponsorship and growth opportunities that are critical for career progression.