State Street Corp., a federal financial services provider, will pay $4.2M to resolve claims that it pays female employees in multiple Boston-based sites unfairly, both in base pay and bonuses, especially at the managing director level.
In addition to setting up a $4.2M fund for pay equity adjustments, State Street also will work with a consultant to conduct a pay equity analysis for all State Street locations nationwide, evaluating base pay and total compensation for all employees.
What would a respectful workplace have done?
Respectful workplaces have robust policies that prohibit discrimination and they ensure those policies are followed. Respectful workplaces ensure their decision-makers know what should – and should not – be considered when making employment decisions such as compensation, and they proactively conduct audits to ensure those decisions are lawful and fair.
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Information here is correct at the time it is posted. Case decisions cited here may be reversed. Please do not rely on this information without consulting an attorney first.
