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Major Financial Companies Look To Close Gender Pay Gap By Hiring More Men

Credit: Veuer
Published on March 25, 2019 - Duration: 01:15s

Major Financial Companies Look To Close Gender Pay Gap By Hiring More Men

Financial companies are putting an unexpected twist on the effort to close the gender pay gap.

Veuer's Maria Mercedes Galuppo has more.

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Major Financial Companies Look To Close Gender Pay Gap By Hiring More Men

Financial companies are putting an unexpected twist on the effort to close the gender pay gap.????They are looking to hire more men instead of women in female-dominated departments.????Financial News reports companies like Royal Bank of Scotland, BNP Paribas and Virgin Money, which face a shortage of women in senior roles, are recruiting men to their female dominated departments like human resources.????A former Virgin Money CEO tells the site that part of eliminating the pay gap is having a 50/50 distribution of men and women throughout all of the companies departments.????For example the Financial News reports the Royal Bank of Scotland has launched a quote โ€œmale-only development programmeโ€ within female-dominated departments.????The move of course has faced criticism, campaigners have said these companies should be focused on boosting women into senior roles rather than hiring men to junior positions.????From 2008 to 2017, women in the US workforce saw the biggest pay disparities in financial jobs compared with their male colleagues, according to a study of Bureau of Labor Statistics data conducted by 24/7 Wall St.

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