Australia's Gender Pay Gap: A Persistent Challenge

Despite slight improvements, Australia's gender pay gap remains notable, especially in finance, mining, and construction. A report shows most companies favor male employees in pay, with notable gaps at major firms despite female leadership. Legislation for reporting inequalities was enacted in 2023 to encourage transparency.

Australia has seen a slight narrowing of its gender pay gap, yet women continue to earn nearly a fifth less than men, particularly in finance, mining, and construction sectors, according to a government report.

The Workplace Gender Equality Agency revealed that 72.2% of employers had a pay gap favoring men while 21.3% were within a target range of +/-5%. Notably, many of the largest discrepancies were found in prominent firms such as Macquarie Group and Woodside, despite having female CEOs.

Australia introduced legislation in 2023 mandating companies with over 100 employees to report gender pay gaps, aligning with standards set by countries like the UK, aiming to encourage greater equity through transparency.

(With inputs from agencies.)