Half of 50 large corporations fail annual Gender Pay Scorecard report
Of 50 leading U.S. companies, half of them received a failing grade of F in the Gender Pay Scorecard released today by investment manager Arjuna Capital and Proxy Impact. Only three companies – Starbucks, Mastercard and Citigroup – received an A grade. The Gender Pay Scorecard offers a template through which to view corporate best practice, ranking companies on quantitative disclosures, commitments to report numbers annually, global coverage and goals to close the gender pay gap. The companies in the ranking have all been engaged by investors through the shareholder proposal process and asked to improve their public pay equity disclosures. Wells Fargo & Co., which has a significant presence in Greater Des Moines, was among 10 companies receiving a B grade in the report. In the United States, women working full time earn 82% of that of their male peers. The annual report coincides with Equal Pay Day. which this year is March 31 – the point at which women would have to work into 2020 to catch up with men’s 2019 earnings.