Good morning, Broadsheet readers! It’s the 46th anniversary of Roe v. Wade, Kamala Harris makes it official, and Intel takes stock of its pay gap. Have a tremendous Tuesday.
• Closing a pay gap—again. My colleague Emma Hinchliffe has the scoop this morning on Intel’s effort to close its gender and racial pay gap—and not for the first time.
The tech giant actually announced it had eliminated its pay gap in 2017, but nearly two years later, it gave the issue a second—perhaps closer—look. The follow-up differed from the first go-around in that it took into account stock compensation. The result? Intel identified a 2.6% pay gap because of gender across nine countries and closed it, in part, by giving affected employees additional stock options equal to 1.5% of their total comp.
‘Pay gap’ is a term that’s used loosely, but Emma makes it a point to remind us that its meaning is not necessarily consistent from company to company.
Intel analyzes pay equity as differences in pay for employees of different genders and races in the same or similar roles, and does allow for differences due to performance and tenure.
That’s a different calculation than what Citigroup released last week, revealing a 29% unadjusted gender pay gap that doesn’t discount differences in position. That number shows the dearth of women in high-level jobs. And an analysis as part of a lawsuit revealed last week that Oracle paid female employees, on average, $13,000 less than men in the same jobs.
Meanwhile, Intel’s re-evaluation of its pay gap is reminiscent of the admission by Salesforce CEO Marc Benioff two years ago that his company needed to close its pay gap a second time—just 14 months after an initial effort. In that case, the acquisition of more than a dozen companies warped a pay system that had previously been balanced.
It all goes to show that the pay gap is an incredibly nuanced problem; there are myriad ways to consider—and solve—it. Fortune
ALSO IN THE HEADLINES
• ‘Will she’ or ‘won’t she’ no more. California Sen. Kamala Harris confirmed what had long been suspected Monday by tossing her name into the ring of Democratic presidential contenders. Harris, only the second black woman to serve in the Senate, nodded to her history-making potential in announcing her run. She did so on the MLK Day holiday and said her first campaign stop will be in South Carolina—rather than Iowa or New Hampshire—where black Democratic voters hold great sway. New York Times
• 46 years later. Today marks the 46th anniversary of Roe v. Wade. In The New Yorker, Jia Tolentino writes about the future of abortion in New York, where late-term abortion is still part of the criminal code. The anniversary, of course, comes days after the third Women’s March, when smaller but still passionate crowds turned out across the country. The New Yorker
• World’s most admired. Fortune released its annual list of the World’s Most Admired Companies today, with Apple at the top. There’s also a companion list of the most underrated and overrated CEOs; while no women were voted overrated, Mary Barra of GM was a pick as an underrated chief. Fortune
• Does H&M spark joy? Fortune‘s Rachel King examines the effect Marie Kondo could have on retail and fast fashion. “There’s a real possibility that Kondo’s influence could push consumers toward fewer, higher-quality investment pieces,” Rachel found. Fortune
MOVERS AND SHAKERS: Kelly Mullens Brown steps down as president of Ryan Seacrest Enterprises and RSD Lifestyle. Kelly Lockwood Primus is the new president and COO of Leading Women, a consulting firm helping corporate leadership with gender diversity.
IN CASE YOU MISSED IT
• Ditching R. Kelly. R. Kelly was finally dropped by his record label, RCA, after the documentary Surviving R. Kelly. The talks reportedly started before the docuseries aired, but well after the public was aware of Kelly’s alleged abuse of young girls. New York Times
• Primary contender. New York Rep. Elise Stefanik launched a new PAC devoted to helping GOP women in primaries. “I think they understand it now,” Stefanik said of her battle convincing GOP leaders that Republican women’s representation and success in primaries is important. Roll Call
• Lean In‘s advocate. Nell Scovell, longtime TV writer and co-author with Sheryl Sandberg of the original Lean In, writes about why she still believes in the book’s message. “I don’t recognize the caricature of Sheryl that some have drawn, but I’ve seen the flesh-and-blood Sheryl devote herself to lifting up other women,” Scovell writes. Meanwhile, Sandberg gave a speech this weekend acknowledging a few difficult years for Facebook. Vanity Fair
• An imperial divide. Japan will exclude all female members of its imperial household from one of the key succession rituals—the transfer of sacred regalia including a sword and jewels—as Emperor Akihito abdicates. Women are barred from inheriting the throne in Japan’s Imperial House. Bloomberg
ON MY RADAR
Gabriela Hearst, the designer dressing women for a new era of political power Washington Post
Mary Oliver’s deep, direct love for the world The New Yorker
Katelyn Ohashi’s perfect 10 reminded America life could be fun again The Guardian
Jean Ann Ford, Benefit co-founder, dies at 71 WWD