Aussie women required to work 61 extra days to earn the same pay

By Cameron Micallef

August 31 2021
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61 days is how much extra time a woman must spend in the workforce to achieve the same financial outcome as her male counterpart, with the gender gap expected to grow further, research has revealed.

Aussie women required to work 61 extra days

Stats released by the Workplace Gender Equality Agency (WGEA) show full -time working women in Australia are taking home $265.50 less per week than their male counterparts.

Not only are Australian women making less, the gap between men and women’s salaries is only increasing, despite it being a legal requirement since 1969 for equal pay amongst women and men.

In fact, WGEA showed progress towards women’s equality outcomes have dissipated, falling by 0.8 per cent to 14.2 per cent.

The difference was mainly driven by a rise in men’s full-time wages that far outpaced a rise in women’s wages, 1.8 per cent compared with 0.9 per cent, with the ABS particularly highlighting earnings growth in construction based on large government support during the pandemic.

“The pay gap is a historic issue that stems from out-dated views about female job commitment and roles within the workplace,” said Rosie Cairnes VP APAC at skillsoft.

“This outlook can take the form of unconscious bias, or outright prejudice. The nature of unconscious bias is that it goes unseen, yet its effects can become highly visible and consequential.”

Highlighting the unconscious bias that happens at many big firms, Ms Cairnes pointed out companies need to create programs to increase awareness for personal bias’ as well as create ways of combating it.

“The reality we must face is that if we have brains, we have bias. For businesses that care deeply about their values and reputations, it is important to understand that all forms of bias and discrimination can manifest rapidly and erode a company’s integrity - and its bottom line - from the inside out,” she continued.

WGEA director Mary Wooldridge said the increase in the pay gap was concerning and served as a warning to ensure continued focus, effort and commitment to drive it back down again.

“Equal Pay Day is an ideal opportunity to remind employers around the country that one of the key levers of change is through gender pay audits. These audits help employers identify and address discriminatory pay, to ensure that women are equally compensated and valued,” she said.

Josh Frydenberg is yet to comment on this latest gender pay gap rise, nor has anyone in the Coalition Government yet acknowledged it including Minister for Women Marise Paye.

As it currently stands on average, women working full-time earned $1,575.50 while men working full-time earned $1,837.00.

About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

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