Blog

Australian women are earning nearly $26,000 less than their male colleagues as efforts to close the gender pay gap stall.

The latest data released by the Workplace Gender Equality Agency shows the pay gap remains stuck at 22.8%.

This means that for the first time, the gap in the 2021-22 financial year was the same as the year before, with women paid $0.77 for every $1 earned by men.

Seven in 10 employers have pay gaps that favour men while women continue to be under-represented in leadership.

The agency’s census found men were more likely to hold managerial positions, even in female-dominated sectors such as healthcare and education.

The number of female chief executives rose from 19.4% in the previous year to 22.3%. There has been an increase of just 5% since 2014.

About one in five boards do not have any female members. Women in other senior levels of management earned almost $100,000 less over the same period.

Only two industries have more women in management than their proportion in the workforce, these include the grouping of transport, postal work and warehousing (26% managers) and mining (21% managers).

Workplace Gender Equality Agency’s director, Mary Wooldridge, said the stalled progress should encourage employers to take action.

“Lasting change requires employers to make bold, creative choices that send a signal to all employees that gender equality is a core part of their business strategy and a priority for those in leadership and managerial roles,” Wooldridge said.

“Leading employers are already putting solutions in place that address challenges like workforce shortages by tailoring factory shifts around school pick-up and drop-off times or promoting flexible hours or part-time work arrangements among managers and executives.”

Article Credited to Australian Associated Press, The Guardian

We would also greatly appreciate your support by following us on Facebook, Linkedin, Instagram-Oracle and Instagram-Kountable for more great tips, support and the latest tax news and headlines!

Oracle Accounting & Wealth is located at Suite 31, 89-97 Jones Street ULTIMO NSW 2007. Phone: 02-9715 2977

Liability limited by a Scheme approved under Professional Standards Legislation.

Disclaimer

The information in this newsletter / factsheet is factual but general in nature. It should not and is not to be construed as advice at any level whatsoever. Because it contains general information that has not been tailored to your personal circumstances it may not be suitable information for you. You must always seek personal financial or taxation advice prior to acting on this information. Further, as many of the comments in this newsletter / factsheet are general in nature, anyone intending to apply the information to practical circumstances should seek professional advice to independently verify their interpretation and the information’s applicability to their particular circumstances.