Approach

There are many ways to evaluate pay across different employee groups, and the way we do this at PepsiCo is by focusing on pay equity. As part of our pep+ ambitions, we are working to achieve and sustain pay equity for our global professional population by maintaining a comprehensive global pay equity process in an effort to help ensure women and men continue to be paid within 1% of each other.^1,2

We strive to provide consistent and fair compensation based on legitimate drivers of pay, such as job level, geographic location and performance ratings, not race, gender or any other protected characteristic. Both PepsiCo’s Total Rewards and People Analytics teams manage and centrally track the review process and analyze demographic and geographic cohorts to evaluate pay equity.

Progress

As of 2023, we have implemented our pay equity review process in 71 countries that collectively make up more than 99% of our salaried employee population. Our results show that in this population, women and men are paid within 1%² of each other and in the U.S. people of color³ are paid within 1%² of non-minorities, after controlling for legitimate drivers of pay such as job level, geographic location and performance ratings. The results of our review process show we continue to have strong pay equity performance and provide insight into how we can advance pay equity in markets in which we operate.