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Tags: bloomberg | staff | pay | women | equal

Bloomberg Staffers Say He Doesn't Pay Women Equally

Bloomberg Staffers Say He Doesn't Pay Women Equally
(George Frey/Getty Images)

By    |   Friday, 21 February 2020 01:30 PM

Mike Bloomberg claimed in the Democrat presidential debate this week that men and women at his company received equal pay, but emerging reports tell a different story.  

Results from one gender pay study of unionized employees at Bloomberg Industry Group, showed that although female staffers made up 52.7 percent of the workforce, they received 93 percent of their male counterparts pay, The Daily Beast reported.  

The union at Bloomberg Industry Group (formerly the Bureau of National Affairs) shared the results on Twitter, noting that "women and people of color face the biggest gaps."  

The union also shared the results of a study showing the pay disparity between white men, women, black and Latino employees. 

"We found a fairly stark difference between pay for women and men," the union wrote in a tweet. "For white employees, men earn on average almost $5,500 more than their female counterparts. The difference was more stark among African American workers. And Latinx men earn an average of $14,800 more than Latinas."  

The findings reflect the results of a 2017 pay-equity study of Bloomberg's U.K. offices, which found an average 20.4 percent pay gap between male and female employees.  

The following year, a follow-up survey found very little difference in the stats, with the average gap in salaries falling down to 19.8 percent between men and women employees.   

In a statement to The Daily Beast, a spokesperson for the mostly nonunion company said "Bloomberg L.P. pays employees equally for equal work."  

Salaries are regularly reviewed for disparities and tools are reportedly used "to help managers make compensation decisions that reward performance," the spokesperson added.   

In a separate statement, a spokesperson said that the unionized Bloomberg Industry Group is a "meritocracy," adding that the company takes measures to avoid unequal pay.

"We regularly review the compensation of our employees to ensure there is no unfair treatment in how they are paid," the spokesperson said.  

"We also evaluate performance and compensation to make compensation decisions that reward performance. Additionally, for Guild employees, we comply with the provisions relating to compensation in our collective bargaining agreement."

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TheWire
Mike Bloomberg claims that men and women at his company received equal pay but emerging reports tell a different story.
bloomberg, staff, pay, women, equal
349
2020-30-21
Friday, 21 February 2020 01:30 PM
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