Company behind 'Fearless Girl' statue hit with $5M fine for underpaid female workers

The Wrap
October 6, 2017 at 4:32PM
A crowd gathers behind a statue titled "Fearless Girl" Wednesday, March 8, 2017, in New York. The statue was installed by an investment firm in honor of International Women's Day.
A crowd gathers behind a statue titled "Fearless Girl" Wednesday, March 8, 2017, in New York. The statue was installed by an investment firm in honor of International Women's Day. (Associated Press/The Minnesota Star Tribune)

The irony: Even the "Fearless Girl" statue — a popular recent addition to New York City's Financial District — can't get a fair shake from the boys.

The financial services company behind the statue has agreed to pay $4.5 million in back pay and another $500,000 in interest to settle claims it paid hundreds of 305 female employees less than their male counterparts in the same positions.

According to the Department of Labor in its agreement, State Street Corporation also discriminated against 15 black employees, paying them less than white workers in the same roles.

The pay issues date back to 2010, according to federal officials, with the investigation kicking off in late 2012.

State Street did not immediately return TheWrap's request for comment. In a statement to The Associated Press, the company pushed back against its newfound reputation.

The firm is "committed to equal pay practices and evaluates on an ongoing basis our internal processes to be sure our compensation, hiring and promotions programs are nondiscriminatory," according to the statement.

The bronze "Fearless Girl" has drawn robust crowds since it was placed in juxtaposition to the Wall Street "Charging Bull" statue in March.

State Street said the statue was meant to celebrate International Women's Day and reflect "the power of women in leadership, and the potential of the next generation of women leaders." (In hindsight, nothing about equal pay was mentioned in its statement.)

Although it's become a crowd favorite, others have groaned about it promoting "corporate feminism," as one Guardian writer put it. Crowds looking to get a picture with the underpaid fearless girl have until International Women's Day 2018, when the statue is planned to be removed.

The "Fearless Girl" statue, created by Kristen Visbal, stands across from the "Charging Bull" statue, Monday, March 27, 2017, in New York. Mayor Bill de Blasio says the popular statue of a young girl will be allowed to remain through February 2018. (AP Photo/Bebeto Matthews)
The "Fearless Girl" statue, created by Kristen Visbal, stands across from the "Charging Bull" statue, Monday, March 27, 2017, in New York. Mayor Bill de Blasio says the popular statue of a young girl will be allowed to remain through February 2018. (AP Photo/Bebeto Matthews) (The Minnesota Star Tribune)
about the writer

about the writer

The Wrap

More from Business

See More
Hennepin Healthcare Clinic and Specialty Center,l 8th Street between Park Av and Chicago Av.
The Minnesota Star Tribune

Minneapolis-based Hennepin Healthcare says it also will suspend contributions to some worker retirement plans while pausing $24 million in capital projects.

The newly renovated Parkway Theater is next door to the new restaurant El Burrito Mercado.
card image