Societe Generale will commit €100 million to reducing the gender pay gap and aims to have more than 35% of women in senior leadership roles by 2026.
The move, announced as part of the lender’s new financial targets, comes a year after a French court ruled that rival BNP Paribas should have included bonuses when comparing women’s pay with men’s.
Eliminating unequal pay should take into account the “discretionary part of the salary,” the Paris judges said in their ruling last fall.
Female representation in the European banking industry remains low, with women on average occupying only 23% of top management roles in 2022, with little to no improvement made over the last couple of years, according to a recent study by DBRS.
