PepsiCo has robust, long-standing processes for managing pay programs that ensure pay equity across employee groups. Building on that history, we have increased the rigor of our pay equity review processes, as part of our Performance with Purpose (PwP) 2025 agenda, with a goal to achieve pay equity by implementing a more comprehensive global pay equity review process.
As of the end of 2018, we have implemented this process in 33 countries that collectively make up 93 percent of the salaried employee population[1]. Our results show that in this population, women and men are paid within 1 percent of each other and in the U.S., people of color and non-minorities are paid within 1 percent of each other[2], after controlling for legitimate drivers of pay such as job level, geographic location and performance ratings.
This gives us confidence that our efforts to achieve pay equity are producing good results. Importantly, we are also gaining insights into how we can advance pay equity in every country in which we operate. In the years ahead, we will continue this process across additional markets.
Our PwP goal is in line with the statement we made in 2016, when we signed the White House Equal Pay Pledge. As part of this pledge, we set a goal to implement a comprehensive, global annual review process to support pay equity for women. As a Fortune 50 company, we felt it was important to add our voice to this conversation and take a leadership position in regards to pay equity.
[1] Excluding top senior executives
[2] Based on base compensation