Gender pay gap reports paving the way for equality in Australia

Earlier this year, the Australian Government enforced companies to provide mandatory gender pay gap reports to the Workplace Gender Equality agency (WGEA).

A big part of this plan is to highlight the difference in male and female wages, with the WGEA report using the data released by Australian Bureau of Statistics to conclude full time working women earn on average $253.70 per week less than full time working men.

This is the lowest level the national pay gap has been in 20 years with the gap falling from 15.3 percent to 14.6 per cent in 12 months.

Due to women’s average weekly rates increasing by 3.4 percent over the past year or $46.50 compared to men’s average weekly rates increasing by 2.4 per cent or $40.10, the gap minimally closed.

But on average women working full time only earn $1453.10, while men working full time earn $1769.80.

Average hourly rates also remain with males earning $39.05 per hour compared to women earning $35.65 per hour.

Despite the gender pay gap being at its lowest point in two decades, in an article released by The Australian, Workplace Gender Equality Agency Director Libby Lyons says we cannot be complacent as there is still much work to do.

“All employers need to continue to ensure their employees are paid equitably. Do a pay gap analysis. Report the results to the executive and board. Pay gaps close when leaders see the numbers. Average full-time salaries are lower for women than men in every occupation and industry in Australia. Women are under-represented in senior executive and management roles and female-dominated occupations and industries attract lower pay than male-dominated ones.”

As seen in the table below women in managerial roles still earn around 20 per cent less then males a total remuneration dollar difference of around $50,000.

Despite these figures, on a global scale the Organisation for Economic Cooperation and Development (OECD) highlighted from the 22 countries listed in the organisation every country recorded the gender pay gap to be in favour of males. Australia is ranked number 14 with a 14.3 per cent pay gap in the world with Romania with a 1.55 per cent pay gap compared to Korea with a 34.62 per cent pay gap.

Australia is on the right track to having gender equality in the workforce and with Equal Pay Day being held on August 31 to mark the 62 extra days women must work to earn the same pay as men, it will remain as a reminder women, despite significant changes, still face inequality barriers in the workforce.