Key Pay Equity Commitment

Building a fair pay structure.

Key is committed to pay equity for all teammates across our entire workforce. As of February 2024 at Key, women earn on average more than 99% of what their male teammates earn, and people of color earn on average more than 99% of what their white teammates earn, accounting for an employee’s job.

Our analysis is based on total compensation (base salary and all discretionary incentives) covering all teammates throughout our organization eligible for discretionary incentives, other than our Executive Leadership Team, whose pay is set by our Board of Directors

How we support pay equity

Key’s commitment to pay equity for all is foundational to our culture, which is supported through our policies and practices in the following ways:

  • We maintain a formal compensation structure to establish pay based on objective factors, including external market survey data, required education, and experience. We regularly review this structure relative to market trends and internal equity.
  • We have a pay-for-performance philosophy in which pay decisions are based on the assessment of individual performance, business unit performance, and the performance of Key. These decisions also consider performance against risk expectations and whether a teammate has exhibited behaviors consistent with our values.
  • As part of our year-end compensation process, we complete a pay practice review of our entire workforce by race/ethnicity and gender to make sure pay and performance are aligned. If disparities are found impacting any gender or race/ethnicity, adjustments are made as warranted.
  • In compliance with various state and local laws and as part of Key’s long-standing commitment to equal employment opportunity, we do not seek current base compensation information from applicants, regardless of location, or consider an applicant’s compensation history when formulating an offer. Key also provides salary range information when requested by applicants and includes it in job postings when required by law, supporting greater pay transparency during the hiring process and further enhancing practices that support pay equity and fairness for all.
  • We continually assess and enhance our practices and engage third-party partners to consult on our pay analyses and practices as needed. Our process continues to evolve over time to become even more comprehensive. As a result, we believe our practices are an effective control to monitor and address pay equity for all teammates.

Key is an Equal Opportunity and Affirmative Action Employer.