Amazon.com (NASDAQ:AMZN) said its men and women employees receive equal compensation for the same job in the company based on the results of its recently conducted survey.
The e-commerce giant made the statement after the Securities and Exchange Commission (SEC) rejected its request to remove from its annual ballot the proposal on gender pay equality by an activist investor. The Commission ruled that Amazon must allow its shareholders to vote on the proposal.
Results of Amazon’s survey on gender pay equality
Amazon estimated that its female employees account 39% of its global workforce and 24% of managers as of July. The results of its study showed the women earned 99.9% (both base pay and stock compensation) for every dollar earned by men in the same jobs.
Women in the United States are paid at an average of $0.78 for every dollar earned by men
The study also found that minorities earned 100.1 cents for every dollar earned by white employees in the same jobs.
An external labor economist conducted the survey, which covered workers at various levels of the Amazon’s organization in the United States.
“There will naturally be slight fluctuations from year to year, but at Amazon we are committed to keeping compensation fair and equitable,” said Amazon.
Amazon steps up response on concerns over gender pay equality
Arjun Capital, the activist arm of Baldwin Brothers, asked Amazon to prepare a report on gender equality by October 26. The activist investor withdrew its shareholder resolution after the e-commerce giant disclosed the results of its gender pat study on Wednesday.
In a statement, Natasha Lamb, director of equity research and shareholder engagement at Arjun Capital, said, “We are pleased Amazon is stepping up in response to investor concerns about gender pay equity. Given Amazon’s disclosure, we will withdraw our shareholder proposal, asking the company to report on its policies and goals to close the gender pay gap, which would otherwise go to a vote of shareholders at the annual meeting in June.”
“What we know is that a ‘trust me, women are paid fairly’ approach is not enough, and a defensive approach to gender pay equity will not solve the problem,” added Lamb.
The e-commerce giant is among the very few U.S. companies including Apple Inc. (NASDAQ:AAPL), Intel Corporation (NASDAQ:INTC), Gap (NYSE:GPS), Salesforce.com (NYSE:CRM), and GoDaddy (NYSE:GDDY) that have been accountable and transparent in their commitment gender pay equality.