Actress Kerry Washington was feted as this year’s Hasty Pudding Woman of the Year at Harvard University on Thursday.

The nation’s oldest collegiate theatrical organization says it named Washington as Woman of the Year because she’s the first black woman to headline a network TV drama since 1974.

Washington plays crisis management specialist Olivia Pope on ABC’s "Scandal."  

The 38-year-old Emmy-nominated actress discussed the important of acceptance diversity. 

"When I give up on acting after five years … and go run my father’s hedge fund … I will pay women as much as I pay men," Washington said. 

Washington said she would not boycott the Academy Awards but said she happy a discussion on diversity in the Oscars is happening. 

"I’m really excited that the conversation is happening. I think the Oscars really are a symptom of a larger issue which is we need more voices at the table," Washington said. 

Washington is the 66th woman to be honored. 

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