WGEA has released its latest gender equality report for covering the past two years.
Numbers don’t lie! And while the 2023-2024 numbers showed meaningful progress towards gender equality in Australian workplaces, there is still plenty of work to be done.
How do we know this? Every year the Workplace Gender Equality Agency (WGEA) comes knocking on the doors of private companies and public organisations with 100 or more employees.
These companies are required (by law) to report annually against six gender equality indicators. And then, all of this data is taken and spun up into a report called the Gender Equality Scorecard.
The good news? The gender pay gap has narrowed from 21.7% to 21.1% (excluding the introduction of CEO salaries - which are male-dominated).
The bad news? The gap is closing sloooooowly 🫠
Here’s a run down of the key stats you should know from the latest scorecard:
👉 The average national gender pay gap is 21.1% for total remuneration (including bonuses and penalties). That means for every $1 a man earns, women earn ~79 cents on average.
👉 This adds up to a yearly difference of $28,425. Imagine getting that as a pay cut...
👉 90% of employers have implemented policies or strategies for gender equality.
👉 68% of employers now analyse their gender pay gaps, with 75% taking action based on findings
👉 A growing number of employers (59%) are setting specific targets to reduce gender pay gaps, increasing women in management, and achieve gender balance in governing bodies.
👉 More employers (68%) are offering employer-funded paid parental leave, helping to promote shared responsibility for childcare and reduce gender inequalities tied to family care.
👉The uptake of parental leave by men has increased, which is important in tackling unequal career disruptions due to caregiving.
👉 Women's representation and pay at the CEO level remain far behind men’s. Women CEOs are earning $158,632 (27.1%) less in total remuneration than their male counterparts on average.
👉 The gap at senior executive levels is a broader issue of underrepresentation of women in high-paying leadership roles.
👉 Men-dominated industries (e.g. Mining and Construction) are highly remunerated and have a low proportion of women.
👉 Women-dominated industries (e.g. Health Care and Social Assistance), have a lower average remuneration compared to the overall average, bringing down the average remuneration of women across the workforce.
👉 Some gender-balanced industries still have large differences in remuneration between women and men within the industry (e.g. Professional, Scientific, Financial and Insurance Services)
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