Rachel Louise Ensign

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574 appearances 12 recordings 1 series first heard Jan 2018 last heard Jan 2024

Rachel Louise Ensign’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Big Banks Reveal Gender Pay Differentials · 25 Jan 2018 podcast

Yes.

So the question of gender on Wall Street is pretty interesting.

I mean, on one hand, we don't have a female CEO of any of the largest banks.

A lot of the prominent lines of business are dominated by men and male executives and

But at the same time, a lot of these companies have actually been at the forefront of different efforts and councils that are trying to kind of make there be more equality in the workplace and make sure women are on boards and things like that.

So basically, Bank of America sent out –

an email yesterday, a memo internally that we've reported on where their head of HR said that they've done an internal study and determined that women are paid 99% of men and minorities are paid 99% of non-minorities.

So it was the first time that they've released this information publicly or at least within the bank before, even though they've obviously been looking at this for years.

It's a good question.

I mean, obviously, there's no need to explain how much the whole environment and national discussion have changed.

But I do think that some of the – my recollection is that the banks rejected those proposals because –

They kind of wanted to crunch the numbers themselves instead of having to go by all these terms and conditions that the proposal set.

But, I mean, I think there's probably a good argument that those kinds of proposals and other endeavors like that did kind of boost the pressure on the banks to do something like this.

Yeah.

So apparently the U.K.

is kind of considering proposing that banks have to do this sort of thing, which definitely does not exist in the U.S.

at all.

And, you know, doesn't really seem to be any prospect for that.

Yeah.

So also in that memo, the bank said that they plan to further restrict asking job applicants about salary history.

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