BNY Mellon Pay Equity Statement 2023

Pay Equity at BNY Mellon

June 2023

 

Our business is focused on helping our clients manage, grow, and preserve their financial assets. Our people are our company’s most important asset, differentiating us in our industry and enabling us to build an organization focused on urgency, accountability, excellence and innovation. 

Diversity, equity and inclusion are values interwoven into our company’s purpose and culture, and these values inform our compensation principles. Pay equity is a priority.

 

Equal Pay

 

At BNY Mellon, we are committed to providing equal pay for equal work (pay equity). We periodically conduct pay practice reviews to assess, globally, how women are paid compared to men and, in the U.S., how employees from underrepresented ethnic/racial backgrounds are paid compared to their white counterparts for doing the same/similar work. In this adjusted median pay gap analysis, we account for legitimate factors, including geography, level and job.  

 

Our most recent pay practices review based on 2022 total compensation data (which includes incentive compensation paid in early 2023) found that compensation for both women globally and U.S. employees from underrepresented ethnic/racial backgrounds, are on average, 100% of their respective counterparts.  

 

Unadjusted/Median Pay

 

We are pleased to share our unadjusted/median pay data again. In this analysis, pay is unadjusted, meaning that we do not adjust pay for any factors like job, geography or job level. 

                              

Unadjusted/median pay compares the 50th percentile of pay of the defined group (women or racial/ethnic group) against the 50th percentile of pay for the comparison group (men or majority group).  The median pay of each population is calculated by ordering all employee compensation from largest to smallest and drawing a line in the middle such that 50% of employees are on either side of the line.

 

Based on 2022 total compensation data, BNY Mellon’s unadjusted global median pay for women was 92.3% of the unadjusted global median pay for men and is reduced from the prior year when it was 93.6%. This was a direct result of female representation increasing in India.

 

Based on 2022 total compensation data, BNY Mellon’s unadjusted US median pay for racially underrepresented employees was 95.5% of the unadjusted median pay for other employees, a reduction of less than 0.5% from the prior year.

 

For more information about diversity, equity and inclusion at BNY Mellon, please visit us at www.bnymellon.com/diversity.