Skip to comments.State Street settles complaint over equal pay for female and black executives ["Fearless Girl"]
Posted on 10/06/2017 8:52:06 AM PDT by markomalley
State Street Corp. has agreed to pay $5 million to resolve a federal investigation into whether it discriminated against female and black executives by paying them less than their colleagues.
The settlement comes only months after the financial giant received plaudits for sponsoring the Fearless Girl statue near Wall Street in Manhattan as part of its effort to get more women placed on the boards of public companies.
In March, an office within the Department of Labor found that State Street had discriminated against women at the senior vice president, managing director, and vice president levels by paying them less than men in similar positions. The agency also claims the company paid black employees less than similarly positioned white employees.
(Excerpt) Read more at bostonglobe.com ...
I know an HR dude at my work. It is his job to pay people as little as possible when they come on board. It is the employees job to get paid as much as possible when the accept the position. This situation is described as a ‘negotiation.’
Some people are better at it than others. For example, my HR friend says that in general women are more likely to take less money than men. Is this a confidence thing? Is this a value thing. Is it a societal thing? Who knows? The fact is, women ‘blink’ before men do during negotiations. My HR friend says its his job to negotiate on behalf of the company. What’s he supposed to do if women don’t negotiate as well?
I suppose you could argue the women should just get paid what men do regardless of the negotiating skills.
My point here is that part of making money is knowing what you’re worth and accepting nothing less. My wife is an excellent negotiator...much better than me. She reads all the books, comes to such meetings prepared and confident.
All people (of all color and all races) deserve to be paid fairly. No one argues this. Part of being paid fairly is knowing what you are worth. These are my comments
With my last couple of places, my HR does a "equity check" to make sure the offer is not too low.
Not political correctness on their part, but they've been burned by EEOC before.
Every ethnic group has exactly the same intelligence level and propensity toward violence, so if there are any statistical differences it can only be because of racism. These government geniuses also need to go after the organizations that have produced every standardized test where black people scored lower that white people and Asians. Then they need to go after law enforcement agencies that unfairly say that black people commit more violent crime than white people and Asians.
And women, they are discriminated against because they have very low levels of testosterone and often take time out from their careers to have babies. It is so unfair. Thank goodness social progressives are now able to use statistics to demonstrate the discrimination and racism. I have noticed even without statistics that there are all sorts of white male billionaires like Bill Gates, the Facebook guy, Warren Buffet, Carlos Slim, etc. etc... We need to use the government to right these terrible wrongs. I think that it would only be fair if the government made my wife a billionaire.
LOL! ‘The adventures Shirtless girl’.
What is too low? If the employee accepts it, it isn’t too low.
If an NFL linemen signs a 4 million a year contract to play line and then, two days later another player (who he feels he is better than) signs a 7.5 million dollar a year contract....has some sort of wrong occurred? No.
The former dude just didn’t understand his value as much as the latter dude. With all that said, it is in the interest of the company to keep their names out of the paper and their employees happy.