Congratulations Citigroup (C) - Get Citigroup Inc. Report , you were the only one of 46 of the world's largest corporations to receive an 'A" grade in a new Arjuna Capital/Proxy Impact survey ranking the world's largest companies based on gender and racial pay equity.
Of the 46 companies, half (23) received a failing grade of "F," including McDonald's (MCD) - Get McDonald's Corporation Report , Walmart (WMT) - Get Walmart Inc. Report , Goldman Sachs (GS) - Get Goldman Sachs Group, Inc. Report , Oracle (ORCL) - Get Oracle Corporation Report and Colgate (CL) - Get Colgate-Palmolive Company Report .
Nine companies were given a "B" grade, including Apple (AAPL) - Get Apple Inc. Report , Pfizer (PFE) - Get Pfizer Inc. Report , Nike (NKE) - Get NIKE, Inc. Class B Report , Bank of New York Mellon (BK) - Get Bank of New York Mellon Corporation Report , Starbucks (SBUX) - Get Starbucks Corporation Report , JPMorgan (JPM) - Get JPMorgan Chase & Co. Report , Intel (INTC) - Get Intel Corporation Report , Wells Fargo (WFC) - Get Wells Fargo & Company Report and American Express (AXP) - Get American Express Company Report .
The report was issued Monday on the eve of Equal Pay Day.
"Numerous studies show women are paid less than their male counterparts. This is a key challenge for companies as they face reputational risk, consumer backlash, new legislation, and governmental and employee lawsuits," said Proxy Impact CEO Michael Passoff. "While salary policies can help ensure equal pay for equal work, providing equal opportunity to move up the corporate ladder requires more specific action from management, including better recruitment, development and retention. Ultimately, it is both equal pay and equal opportunity that will eliminate the gender pay gap."
Citigroup received its "A" grade as the first U.S. company to provide adjusted equal pay and unadjusted median gender and minority pay data on a global basis. Of the 19 financial companies graded, 10 failed.
Apple and Intel were the only tech companies to earn a "B" grade. Three of the 12 tech companies reviewed failed, including Oracle (ORCL) - Get Oracle Corporation Report , Hewlett Packard (HPQ) - Get HP Inc. Report and Analog Devices (ADI) - Get Analog Devices, Inc. Report .
The full report can be found here.
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