2021 Bank of America Gender Equality Index, France

Central to Bank of America’s strategy of sustainable Responsible Growth are the actions we take to be a great place to work for our teammates. Across the globe, to be a great place to work, we focus on providing an inclusive and rewarding experience for all employees.

Our company is committed to equal pay for equal work, including gender pay equity, by fairly and equitably compensating all of our employees. We maintain robust policies and practices that reinforce equal pay for equal work, including review and oversight from our Board and senior leaders.

We conduct annual analyses to examine individual employee pay before year-end compensation decisions are finalised, and we adjust compensation where appropriate. We believe our pay-for-performance approach, combined with our focus on workplace representation, will continue driving the advancement and representation of women in our company. Our strategy, programmes and actions are guided by our commitment to be part of a broader solution for gender equality, contributing to the advancement of women both within our workforce and in society as a whole. The results of our 2020 enterprise review of equal pay for equal workfootnote1 showed that compensation received by women was on average more than 99% of that received by men.

Bank of America Securities Europe S.A. (“BofA SE”) and Bank of America Europe Designated Activity Company, Paris branchfootnote2 (“BofA Europe DAC, Paris Branch”) are required to calculate and publish a Gender Equality Index for 2020. This has been achieved by reference to mandatory indicators (outlined below), performance against each of which leads to the attainment of points, adding up to an overall score out of 100.

For 2020, the Gender Equality Index results, calculated in accordance with the requirements mandated under the Avenir law (Sept 2018) are as below:

Table of Gender Equality Index results, see Show Text Version for more details

1. BofA SE (number of points)

  • Pay gap between men and womenfootnote3:    27 out of 40 points
  • Difference in non-promotional pay increasesfootnote4:    20 out of 20 points
  • Difference in promotion related pay increasesfootnote4:    15 out of 15 points
  • Percentage of employees who receive a pay increase upon returning from maternity leave:  15 out of 15 points
  • Gender representation amongst employees in the top 10 highest paid positions:    5 out of 10 points
  • Final Index Results:  82 out of 100 points

2. BofA Europe DAC, Paris Branch (number of points)

  • Pay gap between men and womenfootnote3:    25 out of 40 points
  • Difference in pay increases:    35 out of 35 points
  • Percentage of employees who receive a pay increase upon returning from maternity leave:  15 out of 15 points
  • Gender representation amongst employees in the top 10 highest paid positions:    0 out of 10 points
  • Final Index Results:    75 out of 100 points

In our 2020 Human Capital Management Report you can learn more about our initiatives that help make Bank of America a great place to work, as well as additional steps we are taking to continue to build on our progress.

Find out more on how we are Investing in Women and promoting a diverse and inclusive workforce to support our employees and better serve customers, clients and shareholders. Read about our commitment to gender equality in our Women in Finance Charter statement.

Third party analysis covering our regional leadership hubs (U.S., U.K., France, Ireland, Hong Kong, and Singapore) and India

1

Previously known as Bank of America Merrill Lynch International DAC, Paris branch

2

Indexed formulaic calculation based on the difference in pay between men and women. This calculation does not take all  pay drivers into consideration (e.g. differences in role or experience) and is not an “equal pay for equal work” analysis

3

As BofA Europe DAC, Paris Branch has less than 250 employees, these 2 indicators are replaced with a single measure comparing pay increases between men and women

4

Originally published 2/25/2021