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Equal Pay for Equal Work

Global compensation practices at Boston Scientific are rooted in our values and the high priority we place on paying people equally for equal work. We regularly benchmark salaries, conduct annual internal and external parity audits and review pay recommendations company wide. In addition, we contract with an independent, third party¹ to annually assess pay equity across all positions using regression analysis. This data analytics approach controls for variables that influence compensation such as job position, tenure, years of experience and location. We use the results to identify any potential pay disparities that should be addressed.

In this process, we look closely at both pay equity and pay parity. We place more weight on pay equity to advance inclusion, equality and opportunity for all. In 2019, we continued to see pay equity results that reflect our practices and the commitment of our leaders to ensure equal pay: 99%+ pay equity for gender globally and 99%+ pay equity for multicultural talent in the United States and Puerto Rico².


In the few instances where we identified a gender disparity — which occurred in positions involving both men and women — we examined the circumstances and acted to increase pay where appropriate. Percentage of employees who showed no statistically significant pay disparity:

 

 

99%+ Pay Equity Across Boston Scientific

 

 

Pay equity is the foundation of an inclusive workplace.

Sustaining equal pay for equal work requires constant measurement and attention. Our pay practices support the company’s high-performance culture, including regular company-wide benchmarking of salaries, internal parity audits and reviews of pay recommendations across the business. We continue to assess and fine-tune our practices to improve on our results, maintain transparency and educate leaders on our pay equity practices. In 2019, our compensation experts also held face-to-face meetings and teleconferences at major worksites globally to address employee questions.

At Boston Scientific, we consider equal pay for equal work foundational to fostering an inclusive workplace environment, and therefore, a key element of our diversity and inclusion strategy. We will continue focusing on forward progress to enable a culture where all employees feel valued and empowered to bring their whole selves to work each day.

1. Resolution Economics LLC 2. Multicultural talent: In the U.S. and Puerto Rico, defined as African American/Black, Asian, Hispanic/Latino, American Indian/Alaska Native, Native Hawaiian/Other Pacific Islander, and two or more races. Excludes any U.S. Puerto Rico employees where the ethnicity is “Unallocated.”
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