The Workplace Gender Equality Agency (WGEA) has reported a slight decrease in Australia’s total remuneration gender pay gap, dropping by 0.6 percentage points to 21.8 per cent.
This means women now earn 78 cents for every dollar men earn, equating to an average annual difference of $28,425.
The reduction is primarily attributed to increased wages for low-paid workers, particularly in the female-dominated Residential Aged Care sector.
For the first time, WGEA’s analysis includes remuneration data for highly paid executives, providing a more comprehensive picture of workplace gender disparities.
WGEA CEO Mary Wooldridge noted a significant shift in employer focus over the past year, stating: “Employers are being held to account on their gender equality performance by employees, prospective employees, investors and the community.
“Business leaders are being challenged to articulate the drivers of their gap and how they will address it.”
The anticipated publication of gender pay gap in February 2024 by WGEA for the first time appears to have motivated employers to take action:
- 68 per cent of employers conducted a gender pay gap analysis, up 13 percentage points
- 90 per cent of these analyses were conducted in the past 12 months
- 75 per cent of employers took action based on their findings, an increase of 15 percentage points
Despite progress, significant disparities remain:
- Only 25 per cent of CEO/Head of Business roles are held by women, with a 27.1 per cent gender pay gap at this level
- 25 per cent of boards still have no women, rising to 41 per cent in male-dominated industries
- All occupations and industries show a gender pay gap favouring men
- While 30 per cent of women work part-time, only 7 per cent of manager roles are part-time
The full results of WGEA’s 2023-24 Employer Census are now available on the Agency’s Data Explorer website, offering insights at national, industry, and employer levels.
Employer-specific gender pay gaps will be released in early 2025.
Wooldridge concluded: “WGEA’s results show change is happening, but the national results show a persistent and pervasive gender pay gap still limits the lifetime earnings of Australian women, affecting their ability to save, invest and build long-term financial security for themselves and their families.”