At Mastercard, diverse perspectives are a critical component of our business strategy and help to deliver it successfully. We embrace and activate all elements of diversity – and we believe that can only happen through a culture of decency built on inclusion. We strive to develop a deep understanding of the best ways for Mastercard to increase diverse representation of people at all levels of the company. Our numbers give us a mark for where we stand and inform us about where we may need to take action. We will continue to put into motion programs and support systems to accomplish this in order to maintain a workplace built on decency and inclusion where everyone can thrive.
Below, we highlight our current position in the ongoing journey of inclusion and diversity, as well as some of our programs and initiatives that are helping us move forward and make progress. Starting this year, in addition to the global gender data we have previously provided, we will also share our U.S. employee representation data. We invite you to explore our Corporate Sustainability Report for additional information on our organization and the work in place to help us continue cultivating a dynamic, engaged and balanced workplace globally.
As of September 1, 2018, nearly 40% of our global workforce was female and nearly 30% of our global senior leadership (defined as senior vice president level and above) was comprised of women.
As of September 1, 2018, people of color, including U.S. senior management, represented more than 35% of our U.S. workforce.
Data as of September 1, 2018.
Senior Management: Defined as SVP and above.
*Others: American Indian, Alaska Native, Native Hawaiian/other Pacific Islander, and two or more races. Ethnicity data does not include undeclared.
We are committed to the ongoing work of creating an inclusive and balanced workplace globally. This includes embedding flexibility into our work programs and policies to enable all employees to balance work demands with personal responsibilities. Results, not hours, count at Mastercard, and to be a place where the best people choose to be, they need to feel that they belong, are supported and have opportunities to lead and excel.
Every year, Mastercard partners with leading business organizations, universities, and events to seek out exceptional recruits and encourage them to join Mastercard.
In 2018, we continued our support of INROADS, an international nonprofit that works to increase the representation of people of color in corporate leadership and participated at the Grace Hopper Celebration of Women in Computing conference. In addition, we sponsor 45 organizations around the world that represent diverse communities, including African-Americans, people with disabilities, Hispanics and Latinos, the LGBTQ, veterans and women. We also expanded our Relaunch Your Career program globally in an effort to support and tap into talent who are returning to the workforce after a break in their careers.
One of our objectives is to have/utilize diverse candidate slates. As of September 1, 2018, 80% of slates globally had at least one female candidate, resulting in a 42% conversion rate. In the U.S., more than 84% of slates had at least one ethnic minority and, as a result, 41% of U.S. hires have been persons of color.
In addition to attracting the best talent to Mastercard, we are also committed to fostering the career development of our employees to ensure continued balance across teams. We continue our ongoing efforts to increase the diversity in our talent pipeline – setting us up for more diverse representation at the senior-most levels in the future. We also provide a number of resources and tools to help employees broaden their skills and gain new experiences, creating opportunities for lateral and upward movement across the organization. Among these efforts is our global female leadership development program, “Women Who Lead,” which uses workshops, career moves and other tactics to ensure our women have the necessary skills to take on broader roles within the company. We also have targeted discussions to address development and succession planning opportunities at our senior management levels.
Additionally, we are involved in a number of other external partnerships and programs designed to facilitate gender diversity. For example, our Board Chairman and other Mastercard management are members of the 30% club.
More than half of Mastercard's employees are part of a Business Resource Group (BRG). Our BRGs provide an opportunity for employees with diverse experiences and perspectives to network and enhance their professional advancement and to help develop innovative new products and solutions for business growth. Over 200 junior/mid-level managers lead our 70 BRG chapters to enhance employee engagement and provide a platform for their communities’ voices to be heard.
Three of our nine employee Business Resource Groups – EAST (Exploring Asian Societies and Trends), Latin Network (Employees of Latin Descent), and LEAD (Leading Employees of African Descent) – are focused on empowering employees of color.
Our Women’s Leadership Network (WLN) BRG is a community that creates opportunity for female financial technology leaders at all levels. The WLN has over 30 global chapters and their mission is to enrich career opportunities, inspire success, encourage entrepreneurial leadership and empower women to lead.
Our commitment to creating a more diverse and inclusive workplace is ongoing. We continue to listen to our employees and take actions aligned with our commitment. All of our employees deserve to feel valued, respected and empowered to reach their full potential. We succeed as a company when we bring together our diverse workforce to innovate and develop solutions for our customers and the communities we support.
Equality is one of the foundational cores of our commitment to building an inclusive, high-performing culture at the company, so we remain dedicated to practices designed to ensure there is equal pay for equal work.
To support our commitment, we have established a framework for examining pay practices annually with the support of third-party analysis. All roles in our organization are reviewed and benchmarked to the external market and we assess compensation decisions for potential pay disparities by gender, among other categories. If disparities are found and not explained in an acceptable manner, appropriate responsive action is taken. Furthermore, we offer employees multiple channels to raise pay disparity concerns, such as our Ethics Helpline, our Employee Relations team or the Law Department.
Following the conclusion of the 2019 assessment and validation process, globally, women at our company earn $1.00 to every $1.00 earned by men.
Gender (Global Workforce)
Today, for every $1.000 earned by male employees, women earn $1.000.
Today, for every $1.000 earned by Caucasian employees, racial and ethnic minorities earn $1.006.
Race/Ethnicity (U.S. Workforce)
Notes on Gender and People of Color Graphics:
In 2019, we also found that U.S. employees who identify as racial and ethnic minorities earned $1.006 for every $1.000 earned by Caucasian employees.
Equality is the foundational core of our commitment to building a diverse, inclusive, high-performing culture. Pay equity is just one component of our ongoing efforts to accomplish that. We are continuously refining our approach to pay equity as our organization and workforce change. In conjunction with initiatives to improve our gender and racial/ethnic diversity mix at all levels, we continue to pursue new opportunities and implement programs and initiatives that will help employees succeed at their highest level.